Updated Nov 3, 2026
Eric Smookler, Jeremy Sklar & Jonathan Rauch Of WS Development Acquire Retail Asset For $109.5M
441 Chestnut Ridge Road
$109,500,000
$912/SF
Building Size
120,000 SF
Asset Type
Retail
Closing
Oct 29, 2026
About this deal
AI
The asset involved in this transaction is a retail property located at 441 Chestnut Ridge Road in Northern NJ. The sale price was $109,500,000, with a total square footage of 120,000, resulting in a price per square foot of $912.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $109,500,000
- Address: 441 Chestnut Ridge Road
- Market: Northern NJ
- Buyer: Eric Smookler, Jeremy Sklar & Jonathan Rauch - WS Development
- Seller: Joint Venture
- Buyer's Representative: Joanna R. Manfro - Cushman & Wakefield
- Seller's Representative: David A. Waldman - David Adam Realty
- Square Footage: 120,000
- Price Per Square Foot: $912
The transaction was facilitated by Joanna R. Manfro of Cushman & Wakefield, who represented the buyers, Eric Smookler, Jeremy Sklar, and Jonathan Rauch of WS Development. David A. Waldman from David Adam Realty represented the seller, a joint venture. Notably, this deal demonstrated the importance of access and speed in securing a generational opportunity in the market.
On the Map
$109,500,000
$912/SF
Retail
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Players
Woodcliff Lake Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93