Updated Oct 28, 2024
Denholtz Properties Secures $11.4M Loan For Red Bank Office Buildings
310 State Highway 35, Red Bank, NJ, USA
$11,400,000
$144/SF
Building Size
79,022 SF
Asset Type
Office
Closing
Jul 27, 2020
About this deal
AI
The office property located at 310 & 322 Highway 35 S. in Red Bank, NJ has been involved in a recent transaction. The property spans a total of 79,022 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $11,400,000
- Date of Transaction: 07/27/2021
- Market: Red Bank, NJ
The lender, Tristate Capital Bank, provided a seven-year, fixed-rate loan for the transaction. Denholtz Properties, represented by Steven Denholtz, serves as the landlord of the property. The brokers involved in the deal were Michael Klein, Jon Mikula, and Carlos Silva from JLL Capital Markets.
On the Map
$11,400,000
$144/SF
Office
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Players
Red Bank Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.39%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93