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
Woodbridge Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
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