Saxum Real Estate Sells Office Property In Summit, NJ For $12.57M
40 Beechwood Road, Lincroft, NJ 07738, USA
$12,570,000
$629/SF
Building Size
19,971 SF
Asset Type
Office
Closing
Aug 4, 2020
AI
An office property located at 40 Beechwood Road in Summit, NJ has been sold for a price of $12,570,000. The property spans 19,971 square feet, resulting in a price per square foot of $629. The sale was facilitated by Saxum Real Estate, represented by Anthony Rinaldi. The brokerage firm Marcus & Millichap was involved in the transaction, with brokers Alan Cafiero, Ben Sgambati, and David Cafiero representing Saxum Real Estate.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $12,570,000
- Address: 40 Beechwood Road, Summit, NJ
- Market: Summit, NJ
- Square Footage: 19,971
- Price per Square Foot: $629
- Seller: Saxum Real Estate - Anthony Rinaldi
- Brokers: Alan Cafiero, Ben Sgambati, and David Cafiero - Marcus & Millichap
The office property at 40 Beechwood Road in Summit, NJ was sold through the efforts of Saxum Real Estate, led by Anthony Rinaldi. The transaction also involved brokers Alan Cafiero, Ben Sgambati, and David Cafiero from Marcus & Millichap. The sale price of $12,570,000 and the total square footage of 19,971 were significant factors in the deal.
Players
Lincroft Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.26%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93