Dr. Dan S. Landmann Acquires Property At 63 Grand Ave River Edge With Buyer’s Rep Darren Lizzack
63 Grand Ave, River Edge, NJ, 07661
Building Size
3,112 SF
Asset Type
Office
Closing
Nov 19, 2023
AI
A 3,112-square-foot office condominium located at 63 Grand Ave, River Edge, NJ, is part of a transaction involving 63 Grand Ave LLC as the seller. The property is situated within a three-story, 10,000-square-foot office building in the River Edge market.
Summary of transaction details:
- Property Type: Office Condo
- Transaction Amount: Not disclosed
- Address: 63 Grand Ave, River Edge, NJ, 07661
- Market: River Edge
- Buyer: Dr. Dan S. Landmann
- Seller: 63 Grand Ave LLC
- Buyer’s Representative: Darren Lizzack - NAI James E. Hanson
- Seller’s Representative: Joe Tormen - Lee & Associates
- Square Footage: 3,112
Darren Lizzack, along with Randy Horning and Michael Guerra from NAI James E. Hanson, represented the buyer in the transaction. The buyer was specifically looking to acquire space for a long-term home for his surgery practice, which is currently located in Maywood.
Players
River Edge 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93