Amboy Bank Provides $17M Acquisition Loan For Office Property In Warren, NJ
10 Independence Blvd.
$17,000,000
$140/SF
Building Size
121,000 SF
Asset Type
Office
Closing
Mar 15, 2023
AI
The office property located at 10 Independence Blvd in Warren, NJ was recently involved in an acquisition loan transaction. The property spans a total of 121,000 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $17,000,000
- Address: 10 Independence Blvd, Warren, NJ
- Market: Warren, NJ
The loan for the acquisition was provided by Amboy Bank. Abe Brach of Signature Acquisitions serves as the landlord for the property. Brad Domenico and Frank Stanislaski from Progress Capital acted as the loan representatives. The sales representatives involved in the transaction were Frank DiTommaso and David Bernhaut from Cushman & Wakefield.
Players
Dover Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93