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IStar Acquires 570 Washington Boulevard Jersey City For $170 Million Represented By Newmark And Cushman & Wakefield

Property Image
SOLD
$170,000,000
Kevin Donner
Gary Gabriel
Adam Spies

New Jersey

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Office350,000 SF
Sold 03/12/2019
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Property Image
SOLD

IStar Acquires 570 Washington Boulevard Jersey City For $170 Million Represented By Newmark And Cushman & Wakefield

570 Washington BLVD, Jersey City, NJ...

See Similar Deals
Office350,000 SF
Sold 03/12/2019
Kevin Donner
Gary Gabriel
Adam Spies
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:Office
Price Per Square Foot:$485
Total Square Footage:350,000 SF
Transaction Type:Sale

The Newport Office Center 6, located at 570 Washington Boulevard in Jersey City, NJ, has been sold for $170,000,000.00. The property comprises 350,000 square feet and features a 10-story building, part of the larger 300-acre mixed-use Newport development initiated by the LeFrak family in 1986.

Summary of transaction details:

  • Property Type: Office Building
  • Transaction Amount: $170,000,000.00
  • Address: 570 Washington Boulevard, Jersey City, NJ
  • Square Footage: 350,000 SF
  • Market: Jersey City
  • Seller: LeFrak Organization
  • Buyer: iStar
  • Seller's Representatives: Kevin Donner (Newmark), Adam Spies (Newmark), Gary Gabriel (Cushman & Wakefield)
  • Price per Square Foot: $485

The sale represents the most expensive transaction for a Jersey City office tower since February 2016. Cushman & Wakefield's team, including Adam Spies, Kevin Donner, and H. Gary Gabriel, played a crucial role in marketing and negotiating the sale on behalf of the seller, LeFrak Organization. iStar is a real estate investment trust based in New York City.

Players

Gary Gabriel
Cushman & Wakefield
Gary Gabriel
56 deals$4.5B volume
BROKER
Adam Spies
Newmark
Adam Spies
260 deals$71.4B volume(212) 841-7500
BROKER
Kevin Donner
Newmark
Kevin Donner
48 deals$10.1B volume
BROKER
i
iStar
BUYER

Details

SOLD
IMAGE: 570 Washington BLVD, Jersey City, NJ... MARKET: Jersey City SELLER'S REP: Kevin Donner(Newmark), Adam Spies(Newmark), Gary Gabriel(Cushman & Wakefield) BUYER: iStar SELLER: PRICE: $170,000,000.00 SF: 350000

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