facebook
Traded Co logo
Submit

Shelbourne Global Solutions Acquires Property From Mountain Development Corp For $23M In New Providence

Property Image
SOLD
$23,000,000

New Jersey

See Similar Deals
Office171,216 SF
the dealplayerscompscontact
Property Image
SOLD

Shelbourne Global Solutions Acquires Property From Mountain Development Corp For $23M In New Providence

41 Spring St, New Providence, NJ, 07974

See Similar Deals
Office171,216 SF
Contact now

Summary

NEW JERSEY
Asset Type:Office
Price Per Square Foot:$134
Total Square Footage:171,216 SF
Transaction Type:Sale

The property asset involved in this transaction is located at 41 Spring St, New Providence, NJ, with a market value reflecting a significant transaction amount of $23,000,000.00. The total square footage of the asset is 171,216, representing a substantial size in the New Providence market.

Summary of transaction details:

  • Property Type: Not specified
  • Transaction Amount: $23,000,000.00
  • Address: 41 Spring St, New Providence, NJ
  • Market: New Providence
  • Seller: Mountain Development Corp. MDC
  • Buyer: Shelbourne Global Solutions
  • Seller's Representative: Kevin Welsh - Newmark, Geoffrey Schubert - CBRE

The deal involved key individuals and companies including the seller Mountain Development Corp. and the buyer Shelbourne Global Solutions. The sellers were represented by brokers Kevin Welsh from Newmark and Geoffrey Schubert from CBRE, facilitating the transaction efficiently in the competitive property market.

Players

Kevin Welsh
21 deals$1.1B volume(201) 528-0862
BROKER

Geoffrey Schubert
Lee & Associates
4 deals$23M volume(201) 819-1941
BROKER

BUYER


SELLER

Details

SOLD
IMAGE: 41 Spring St, New Providence, NJ, 07974 MARKET: New Providence SELLER'S REP: Kevin Welsh-Newmark, Geoffrey Schubert-CBRE BUYER: Shelbourne Global Solutions SELLER: Mountain Development Corp. MDC PRICE: $23,000,000.00 SF: 171216

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,226,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$81,714.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$109,031.73
Annual Debt Service$1,308,380.81