StoneWater Equities Acquires Office Building In Fairfield For $7.15M
710 US Route 46, Fairfield Township, New Jersey 07004, United States
$7,150,000
Building Size
—
Asset Type
Office
Closing
Feb 10, 2022
AI
StoneWater Equities, represented by Morris Sarway, has acquired an office property located at 710 Route 46 in Fairfield. The property was sold by 700 Fairfield Investors LLC. The transaction was facilitated by brokers Andy Merin, Andy Schwartz, Jordan Sobel, and Andre Balthazard from Cushman & Wakefield. The sale price for the property was $7,150,000.
Summary of transation details
- Property Type: Office
- Transaction Amount: $7,150,000
- Address: 710 Route 46, Fairfield
- Buyer: StoneWater Equities - Morris Sarway
- Seller: 700 Fairfield Investors LLC
- Brokers: Andy Merin, Andy Schwartz, Jordan Sobel, and Andre Balthazard - Cushman & Wakefield
The acquisition of the office property by StoneWater Equities was completed on February 11, 2022. The property is located at 710 Route 46 in Fairfield. The transaction involved the buyer, StoneWater Equities, represented by Morris Sarway, and the seller, 700 Fairfield Investors LLC. The deal was facilitated by brokers Andy Merin, Andy Schwartz, Jordan Sobel, and Andre Balthazard from Cushman & Wakefield. The property was sold for a total price of $7,150,000.
Players
Fairfield 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
2.22%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93