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5 Vaughn Dr, Princeton, NJ ...

American Equity Partners Acquires 98,500 SF Office In Princeton For $7.5M
SOLDOffice

American Equity Partners Acquires 98,500 SF Office In Princeton For $7.5M

5 Vaughn Dr, Princeton, NJ 08540, USA

$7,500,000

$76/SF

Building Size

98,500 SF

Asset Type

Office

Closing

Oct 25, 2020

AI

A 98,500 square foot office property located at 5 Vaughn Drive in Princeton has been sold in a recent closed transaction. The property was purchased by American Equity Partners from Mack-Cali Realty Corporation. The sale price for the property was $7,500,000, resulting in a price per square foot of $76.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $7,500,000
  • Address: 5 Vaughn Drive, Princeton
  • Square Footage: 98,500
  • Market: Princeton

MaryAnne Gilmartin and Ricardo Cardoso of Mack-Cali Realty Corporation represented the seller in this transaction.

Players

AP
American Equity PartnersBuyer

Ricardo Cardoso

Mack-Cali Realty Corp

Seller

$382.3M

vol

5 deals

Seller

Princeton 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

2.12%

Cash-on-Cash

-0.60%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93