Tuli And Duvi Blumenberg Acquire 52 Fadem Rd Springfield Township For $15.5M With Drew Maffey As Buyer's Rep
52 Fadem Rd, Springfield Township, NJ...
$15,500,000
$74/SF
Building Size
207,000 SF
Asset Type
Office
Closing
Nov 19, 2023
AI
The property involved in this transaction is located at 52 Fadem Rd, Springfield Township, NJ. It is situated in the Springfield market and has a sizeable area of 207,000 square feet. The transaction price was $15,500,000.00.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $15,500,000.00
- Address: 52 Fadem Rd, Springfield Township, NJ
- Market: Springfield
- Square Footage: 207,000
- Buyer: Tuli and Duvi Blumenberg
- Seller: Unknown
- Buyer's Representative: Drew Maffey - Lee & Associates
The deal features Tuli and Duvi Blumenberg as the buyers, while the seller remains unidentified. Drew Maffey, representing the buyers, is affiliated with Lee & Associates, facilitating this noteworthy transaction.
Players
Springfield 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
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93