Thor Equities Acquires Industrial Property In Paulus Hook, Jersey City For $94.5M
SOLD
$94,500,000
New York
See Similar DealsIndustrial3,400,000 SF
Sold 03/08/2020
SOLD
Thor Equities Acquires Industrial Property In Paulus Hook, Jersey City For $94.5M
95 Greene St, New York, NY 10012, USA
See Similar DealsIndustrial3,400,000 SF
Sold 03/08/2020
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$27
Total Square Footage:3,400,000 SF
Transaction Type:Sale
Thor Equities has acquired an industrial property located at 95 Greene Street in Paulus Hook, Jersey City for a total price of $94,500,000. The property spans 340,000 square feet, resulting in a price per square foot of $277. The seller of the property is SJP Properties, represented by Steve Pozycki.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $94,500,000
- Square Footage: 340,000
- Price per Square Foot: $277
- Address: 95 Greene Street, Paulus Hook, Jersey City
- Buyer: Thor Equities
- Seller: SJP Properties - Steve Pozycki
It is worth noting that Thor Equities has plans to transform the property into a life science campus.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,040,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$335,738.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$447,978.21
Annual Debt Service$5,375,738.54
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