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710 US Route 46, Fairfield ...

StoneWater Equities Acquires Office Building In Fairfield For $7.15M
SOLDOffice

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

Andrew Merin

Cushman & Wakefield

Broker

$3.1B

vol

35 deals

Broker

Morris Sarway

Buyer

$30.5M

vol

3 deals

Buyer

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