Updated Aug 28, 2026
Blake Chen Acquires Industrial Property From Bob Singh For $7.75M In Farmingdale
229 Broadhollow Road
$7,750,000
$193/SF
Building Size
40,000 SF
Asset Type
Industrial
Closing
Jul 1, 2026
About this deal
AI
The property asset involved in this transaction is an industrial space located at 229 Broadhollow Road, Farmingdale. The sale price for this asset amounted to $7,750,000, encompassing a total square footage of 40,000, which translates to a price per square foot of $193.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $7,750,000
- Address: 229 Broadhollow Road
- Market: Farmingdale
- Square Footage: 40,000
- Price per Square Foot: $193
- Buyer: Blake Chen
- Seller: Bob Singh
- Seller's Representative: Luciano Oliverio - Summit CRE
This transaction involved Blake Chen as the buyer and Bob Singh as the seller. Representing the seller, Luciano Oliverio of Summit CRE highlighted the company's extensive buyer pool, consisting of end users and investors with capital to deploy. This indicates a strategic approach to marketing properties for sale within this network.
On the Map
$7,750,000
$193/SF
Industrial
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Players
Farmingdale Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.05%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93