Updated Sep 9, 2024
Hudson Edge Investment Partners Acquires Office In Montclair For $2.5M
70 Park St, Montclair, NJ, 07042
$2,500,000
$208/SF
Building Size
12,000 SF
Asset Type
Office
Closing
Nov 22, 2023
About this deal
AI
An office property located at 70 Park St, Montclair, NJ, 07042 has been sold for $2,500,000.00. The 12,000-square foot asset, known as 70 Park Montclair, is situated in the Montclair market and is currently 83 percent occupied.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $2,500,000.00
- Address: 70 Park St, Montclair, NJ, 07042
- Market: Montclair
- Buyer's Representative: Michael DeVita (Hudson Edge Investment Partners)
- Seller: Unknown
- Square Footage: 12,000
The sale of 70 Park Montclair was brokered by Alan Cafiero, Ben Sgambati, David Cafiero, and Michael DeVita of Marcus & Millichap. They represented the seller, a limited liability company, as well as the buyer, a partnership, in the transaction.
Montclair Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Visit Michael DeVita to view all their deals.
Browse New Jersey office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93