Jaikaran Ramharack Sells Mixed Use Property In Montclair, NJ For $2.1M
SOLD
$2,100,000
England
See Similar DealsDevelopment Site11,520 SF
Sold 01/31/2023
SOLD
Jaikaran Ramharack Sells Mixed Use Property In Montclair, NJ For $2.1M
2 Carrington Ct
See Similar DealsDevelopment Site11,520 SF
Sold 01/31/2023
Summary
Asset Type:Development Site
Price Per Square Foot:$182
Total Square Footage:11,520 SF
Transaction Type:Sale
The mixed-use property located at 10 Elm St in Montclair, NJ, has been sold. The property, with a total square footage of 11,520, was sold for a price of $2,100,000. The seller of the property was Jaikaran Ramharack.
Summary of transaction details:
- Property Type: Mixed Use
- Transaction Amount: $2,100,000
- Address: 10 Elm St, Montclair, NJ
- Market: Montclair, NJ
The deal was facilitated by Marcos Claudius from The Claudius Group, a representative from KW Commercial. Congratulations to the clients on the completion of the sale and acquisition. The process involved obtaining necessary approvals, and the broker looks forward to the fruition of the clients' plans and efforts on this unique luxury residential development project.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$112,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86
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