Paterson Charter School Acquires Office Building On E. 34th St In Paterson For $2M
39-53 E 34th St, Paterson, NJ, USA
$2,000,000
$107/SF
Building Size
18,660 SF
Asset Type
Office
Closing
Feb 9, 2021
AI
The office property located at 39-53 E. 34th St in Paterson has been sold for a price of $2,000,000. The property spans across 18,660 square feet, resulting in a price per square foot of $107. The transaction took place on February 10, 2021, and the buyer was Paterson Charter School for Science and Technology, represented by Riza Gurcanli. The seller, Cobert Realty LLC, was represented by Mitch Roman of Cresa.
Summary of transation details
- Property Type: Office
- Transaction Amount: $2,000,000
- Address: 39-53 E. 34th St, Paterson
- Market: Paterson
- Square Footage: 18,660
- Price per Square Foot: $107
Lindsay Ornstein, Stephen Powers, Arthur Skelskie, and Leslie Florio from Transwestern Real Estate Services served as the buyer's representatives in this transaction. They facilitated the deal on behalf of Paterson Charter School for Science and Technology. It's important to note that Lindsay Ornstein, Stephen Powers, Arthur Skelskie, and Leslie Florio are part of the Transwestern Real Estate Services team. On the other hand, Mitch Roman represented the seller, Cobert Realty LLC, as a representative from Cresa.
Players
Paterson Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93