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Denholtz Properties Acquires Office/Storefront Retail In Red Bank, NJ For $9.09M

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FINANCED
$9,090,000

New Jersey

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Office79,752 SF
Financed 08/16/2022
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Property Image
FINANCED

Denholtz Properties Acquires Office/Storefront Retail In Red Bank, NJ For $9.09M

133,Broad Street ,Red Bank, Nj, 140 Broad Street,Red Bank, NJ & 148 Broad Street,Red Bank, NJ

See Similar Deals
Office79,752 SF
Financed 08/16/2022
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Summary

NEW JERSEY
Asset Type:Office
Price Per Square Foot:$114
Total Square Footage:79,752 SF
Transaction Type:Loan

The property involved in this transaction is an office/storefront retail asset located at 133, 140-148 Broad Street, Red Bank, NJ. The total square footage of the asset is 26,584. The loan amount secured for this acquisition and renovation is $9,090,000. The lending institution for this transaction is TriState Capital Bank.

Summary of transaction details:

  • Property Type: Office/Storefront Retail
  • Transaction Amount: $9,090,000
  • Address: 133, 140-148 Broad Street
  • Market: Red Bank, NJ
  • Lender: TriState Capital Bank
  • Landlord: Denholtz Properties - Steven Denholtz
  • Broker: Kathy Anderson - Progress Capital
  • Loan Type: Acquisition/Renovation

The deal involves key individuals including Steven Denholtz, who represents Denholtz Properties, and Kathy Anderson, who is the broker representing the transaction through Progress Capital. This collaboration facilitated the loan arrangement and property acquisition process.

Players

Kathy Anderson
55 deals$922.6M volume(732) 720-6301
BROKER

Steven Denholtz
Denholtz Properties
13 deals$227.3M volume
LANDLORD

Details

FINANCED
IMAGE: Kathy Anderson & Steven Denholtz DATE: 08/16/2022 ADDRESS: 133, 140-148 Broad Street MARKET: Red Bank, NJ ASSET TYPE: Office/Storefront Retail ~ SF: 26,584 LENDER: TriState Capital Bank LANDLORD: Denholtz Properties (@DenholtzProperties) - Steven Denholtz BROKER: Kathy Anderson - Progress Capital (@Progress.Capital) LOAN AMOUNT: $9,090,000 LOAN TYPE: Acquistion/Renovation

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$9,090,000.00

Monthly NOI$60,600.00
Monthly Debt Service$57,454.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00