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39-53 E 34th St, Paterson, ...

Paterson Charter School Acquires Office Building On E. 34th St In Paterson For $2M
SOLDOffice

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

Mitch Roman

Broker

$2M

vol

1 deal

Broker

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