Newport - 545 Washington Blvd - 545 Washington Blvd, Jersey City, NJ

Property Type Office - General Office
Property Size 861,000 SF
Lot Size 2.82 Acre
Parking Spaces Avail. 861
Parking Ratio 1.00/ 1,000 SF
Property Tenancy Multi-Tenant
Building Class A
Year Built 2001

Location

Map
Street

City Jersey City, NJ
Neighborhood Newport
Zip Code 07310
Market New Jersey

Contacts

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Owner

True Owner
Registered Owner

Tenants

Suite Name	Tenant	Leased Space	Rent Price	Lease Type	Space Type	Lease Term
370 17th Street #5500	MERRILL, (303) 446-5500	23,824 SF	$23/SF/YR	Modified Gross	General Office	11/01/2014- N/A
370 17th Street #6000	Morrison & Foerster, (303) 592-1500	10,710 SF	$26/SF/YR	Full Service	General Office	08/01/2013- 07/31/2023

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Documents

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Sales

Purchase Date 20 Feb, 2020
Purchase Price
Arm's Length True
Buyer Name

Mortgages

Current Lender
Loan Amount
Loan Origination Date
Loan Maturity Date

Market Trends

Average Actual Rents in Jersey City

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent

Net Rent

$44.3/SF/YR

Recoverables Show detailsHide details

$16.7/SF/YR

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Occupancy & Leasing Activity

Occupancy

83.5%

Lease Spread

-20.5%

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Asking Rents in Jersey City Office Market

Office rental rates are based on aggregated data of asking rates.

2020 Avg. Asking Rent $53.56
2020 Office Vacancy Rate 21.95%
2020 Office Completions (SF)

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Tax

Property Tax in 2022 $3,112,388
Market Value* $194,039,200
Assessed Value $194,039,200

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*The displayed market value represents the assessed value determined by the appropriate local tax/financial authority. It is not the property’s latest sale price or a current market value based on recent area sales.

Frequently Asked Questions

What is the total square footage of Newport - 545 Washington Blvd?

Newport - 545 Washington Blvd totals 861,000 square feet.

When was this property built?

Newport - 545 Washington Blvd was built in 2001.

When was Newport - 545 Washington Blvd last sold?

Newport - 545 Washington Blvd was last sold on 20 Feb, 2020.

What is the property tax for Newport - 545 Washington Blvd?

The property tax for Newport - 545 Washington Blvd in 2022 was $3,112,388.

What is the market value for Newport - 545 Washington Blvd?

The market value* for Newport - 545 Washington Blvd in 2022 was $194,039,200.
*This represents the market value determined by the appropriate local tax/financial authority, and not the latest sale price or current market value based on recent sales.

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