Updated Dec 4, 2024
Keystone Property Group Sells Office Building In Woodcliff Lake For $9.8 Million
470 Chestnut Ridge Road
$9,800,000
$182/SF
Building Size
53,730 SF
Asset Type
Office
Closing
Sep 10, 2024
About this deal
AI
A 53,730-square-foot office building at 470 Chestnut Ridge Road in Woodcliff Lake has been sold for $9.8 million. The property is fully leased to Kiewit Infrastructure, which serves as its Northeast headquarters.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $9,800,000
- Asset Size: 53,730 SF
- Price Per Square Foot: $182
- Seller: Keystone Property Group
- Brokers: Daniel Blumenkrantz, Doug Rodio, Jeffrey Dunne & Travis Langer - CBRE
CBRE's team, comprised of Jeffrey Dunne, Doug Rodio, Travis Langer, and Daniel Blumenkrantz, represented the seller, Keystone Property Group, in this transaction.
On the Map
$9,800,000
$182/SF
Office
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Players
Woodcliff Lake 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
1.62%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93