Updated Oct 28, 2024
Denholtz Properties Acquires Mixed-use Property In Red Bank For $4.8M
140 Broad Street, Red Bank, New Jersey 07701, United States
$4,800,000
$137/SF
Building Size
35,000 SF
Asset Type
Mixed-use
Closing
Aug 22, 2022
About this deal
AI
A mixed-use property located at 140-148 & 133 Broad St in Red Bank has been sold for $4,800,000. The property spans 35,000 square feet, resulting in a price per square foot of $137. The sale took place on August 23, 2022 between the buyer, Denholtz Properties, and the seller, Schiff Real Property I LLC.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,800,000
- Address: 140-148 & 133 Broad St, Red Bank
- Market: Red Bank
- Buyer: Denholtz Properties
- Seller: Schiff Real Property I LLC
- Brokers: Andy Schwartz, Jordan Sobel & Andre Balthazard - Cushman & Wakefield
- Square Footage: 35,000
- Price per Square Foot: $137
The deal was facilitated by the brokers Andy Schwartz, Jordan Sobel, and Andre Balthazard from Cushman & Wakefield. They represented the buyer and seller in the transaction, ensuring a successful sale of the mixed-use property in Red Bank.
Players
Red Bank Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.30%
Cash-on-Cash
-0.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93