Michael Anthony Acquires South Plainfield Industrial Property From Marvin Strauss For $139M
2500 Middlesex Ave, South Plainfield, NJ, USA
$139,000,000
Building Size
—
Asset Type
Industrial
Closing
Sep 7, 2021
AI
An industrial property in South Plainfield has been sold for $139,000,000. The property, located at 2500 Middlesex Ave, 1641, 1640 New Market Ave & 2005 New Brunswick Ave, is a significant asset in the market. The sale transaction took place on September 8, 2021. The buyer, Michael Anthony, acquired the property from the seller, Marvin Strauss.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $139,000,000
- Address: 2500 Middlesex Ave, 1641, 1640 New Market Ave & 2005 New Brunswick Ave, South Plainfield
- Date: September 8, 2021
- Buyer: Michael Anthony
- Seller: Marvin Strauss
The sale of this industrial property reflects a significant investment in the South Plainfield market. It is an important transaction for both the buyer, Michael Anthony, and the seller, Marvin Strauss. The deal highlights the ongoing activity and growth in the industrial sector in South Plainfield.
Players
South Plainfield Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93