Updated Dec 4, 2024
Steven Haddad Purchases Office Building In Tinton Falls From Lucas Construction For $3,170,000
2 Hance Avenue
$3,170,000
$211/SF
Building Size
15,000 SF
Asset Type
Office
Closing
Nov 10, 2023
About this deal
AI
The office located at 2 Hance Avenue in Tinton Falls, NJ, was sold in a transaction that closed on November 10, 2023. The property spans 15,000 square feet and was sold for $3,170,000, resulting in a price per square foot of $211.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,170,000
- Buyer: Steven Haddad
- Seller: Lucas Construction
- Broker: Steven Richel - Richel Commercial Brokerage
Steven Haddad acquired the office property at 2 Hance Avenue in Tinton Falls, NJ, with the assistance of Steven Richel from Richel Commercial Brokerage. The seller in this transaction was Lucas Construction.
On the Map
$3,170,000
$211/SF
Office
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Tinton Falls Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.00%
Cash-on-Cash
-1.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93