Pennington

2 Tree Farm Rd. & 23 Route 31, Pennington, NJ
29,600 sq. ft Office Building

On April 30, 2003, the owner paid $5,262,000 for both Pennington Point East and West. Deutsche Banc Mortgage Capital lent $4,350,000 on the same date. Strategic Holdings purchased this note for $2,538,065. There are two recent appraisals valuing the property at $4,100,000. Strategic Holdings acquired title to the property in February 2014 via a Deed in Lieu of Foreclosure and sold the property on August 15, 2014 for $4,100,000.

DETAILS

Sales Price: $4,100,000
Acquisition Price: -$2,538,065
Costs: $200,000
Profit: $1,361,935

ADDITIONAL DETAILS