Updated Oct 29, 2024
Asia Investment Management Acquires Office Building In Ridgefield Park, New Jersey For $59.7M
85 Challenger Rd, Ridgefield Park, NJ 07660, Estados Unidos
$59,700,000
$25/SF
Building Size
2,330,000 SF
Asset Type
Office
Closing
Oct 26, 2020
About this deal
AI
The office property located at 85 Challenger Road in Ridgefield Park, New Jersey has been sold in a transaction. The property is owned by KABR Group, represented by Kenneth Pasternak, and has been purchased by Asia Investment Management. The sale price for this transaction is $59,700,000.
Summary of Transaction Details:
- Property Type: Office
- Transaction Amount: $59,700,000
- Tenant: Samsung
- Buyer: Asia Investment Management
- Seller: KABR Group – Kenneth Pasternak
- Brokers: Jose Cruz, Kevin O’Hearn, Steve Simonelli, Michael Oliver, and J.B. Bruno at JLL
Samsung is the tenant occupying the office property at 85 Challenger Road. The deal was facilitated by brokers Jose Cruz, Kevin O’Hearn, Steve Simonelli, Michael Oliver, and J.B. Bruno from JLL.
Players
Ridgefield Park 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93