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581 Main Street, Woodbridge...

Longpoint Realty Partners Acquires Woodbridge Office Building For $61M
SOLDOffice

Longpoint Realty Partners Acquires Woodbridge Office Building For $61M

581 Main Street, Woodbridge Township, NJ, USA

$61,000,000

$300/SF

Building Size

203,335 SF

Asset Type

Office

Closing

Dec 3, 2020

AI

581 Main Street in Woodbridge, an office property, was sold for $61,000,000 on 12/04/2020. The property spans 203,335 square feet, resulting in a price per square foot of $300.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $61,000,000
  • Address: 581 Main Street, Woodbridge
  • Market: Woodbridge

The buyer, 581 Main Street LLC, acquired the property from Mack-Cali Realty Corp., represented by MaryAnne Gilmartin & Ricardo Cardoso. Longpoint Realty Partners acted as the buyer's representative, while Cushman & Wakefield represented the seller in the transaction.

Players

Ricardo Cardoso

Mack-Cali Realty Corp

Seller

$382.3M

vol

5 deals

Seller
Mack-Cali Realty Corp
Mack-Cali Realty CorpSeller

Woodbridge 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

0.26%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93