Longpoint Realty Partners Acquires Property At 31 Styertowne Rd Clifton NJ With Josh Krantz As Seller's Rep
31 Styertowne Rd, Clifton, NJ, 07012
Building Size
98,000 SF
Asset Type
Warehouse
Closing
Nov 20, 2023
AI
A two-building warehouse complex located at 31-35 Styertowne Rd, Clifton, NJ, has been sold. The property consists of 98,000 square feet and is situated in the Clifton market.
Summary of transaction details:
- Property Type: Warehouse
- Transaction Amount: Not disclosed
- Square Footage: 98,000
- Address: 31-35 Styertowne Rd, Clifton, NJ, 07012
- Seller's Representative: Josh Krantz - Lee & Associates
- Buyer: Longpoint Realty Partners
The transaction was facilitated by Josh Krantz, a senior vice president at Lee & Associates, who represented the seller, Kessler-Schwartz Associates. Longpoint Realty Partners has appointed Lee & Associates New Jersey as its leasing agent for the property, which will undergo updates, including LED lighting and window replacements.
Clifton Warehouse Market Snapshot
Boundary boundary · Warehouse · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93