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Saxum Real Estate Sells Office Property In Red Bank, NJ For $10.7M

Property Image
SOLD
$10,700,000
Seth Goldberg
Brent Hyldahl
Alan Cafiero

New Jersey

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Office24 SF
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Property Image
SOLD

Saxum Real Estate Sells Office Property In Red Bank, NJ For $10.7M

55 Broad Street, Red Bank, New Jersey 07701, United States

See Similar Deals
Office24 SF
Seth Goldberg
Brent Hyldahl
Alan Cafiero
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Office
Price Per Square Foot:$445,833
Total Square Footage:24 SF
Transaction Type:Sale

An office building located at 55 Broad St in Red Bank, NJ has been sold for a price of $10,700,000. The property spans a total area of 24,032 square feet, resulting in a price per square foot of $445. The sale was facilitated by Saxum Real Estate, with representation from brokers Alan Cafiero, Brent Hyldahl, and Seth Goldberg of Marcus & Millichap.

Summary of Transaction Details

Alan Cafiero, Brent Hyldahl, and Seth Goldberg of Marcus & Millichap played a crucial role in facilitating this office building sale in Red Bank, NJ. Their representation ensured a successful transaction for Saxum Real Estate, the seller.

Players

Brent Hyldahl
Marcus & Millichap
Brent Hyldahl
57 deals$436.2M volume(201) 742-6116
BROKER
Alan Cafiero
Marcus & Millichap
Alan Cafiero
100 deals$763.8M volume(201) 240-7367
BROKER
Seth Goldberg
Marcus & Millichap
Seth Goldberg
21 deals$236.7M volume
BROKER
SE
Saxum Real Estate
SELLER

Details

SOLD
IMAGE: Alan Cafiero, Brent Hyldahl & Seth Goldberg DATE: 11/23/2022 ADDRESS: 55 Broad St MARKET: Red Bank, NJ ASSET TYPE: Office SELLER: Saxum Real Estate (@Saxum_Real_Estate) BROKERS: Alan Cafiero (@Hoxrule3), Brent Hyldahl & Seth Goldberg (@SGoldberg__) - Marcus & Millichap (@MarcusMillichap_NewJersey) SALE PRICE: $10,700,000 SF: 24,032 ~ PPSF: $445

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$570,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$38,014.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$50,723.46
Annual Debt Service$608,681.51