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63 Grand Ave, River Edge, N...

Dr. Dan S. Landmann Acquires Property At 63 Grand Ave River Edge With Buyer’s Rep Darren Lizzack
SOLDOffice

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

Darren Lizzack

The Clinical Group

Broker

$63M

vol

18 deals

Broker

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