Harborside 2-3
An office property in Jersey City, New Jersey. Securitized in 2 CMBS deals in 2023.
$396.0MAppraised value (latest deal)
75.1%Occupancy
$33.2MUnderwritten NOI
8.4%Implied cap rate
- Address
- 200-210 Hudson Street, Jersey City, NJ 07311
- Property type
- Office · CBD
- Year built
- 1930
- Size
- 1,599,029 SF
- Sponsor
- Mark Karasick and Michael Silberberg
- Loan purpose
- Acquisition
- Largest tenant
- MUFG Bank
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| BMO 2023-C5 | 2023-06-21 | $396.0M | 75.1% | $33.2M | 8.4% | $30.0M | 56.8% | 2.36x | 424B |
| BMO 2023-5C1 | 2023-08-16 | $396.0M | 75.1% | $33.2M | 8.4% | $30.0M | 56.8% | 2.36x | 424B |
Historical NOI reported in BMO 2023-5C1
| Period ending | NOI |
|---|---|
| 12/31/2022 | $31.5M |
| 12/31/2021 | $29.4M |
| 12/31/2020 | $26.1M |
More CMBS properties in New Jersey →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.