Jaikaran Ramharack Sells Mixed Use Property In Montclair, NJ For $2.1M
2 Carrington Ct
$2,100,000
$182/SF
Building Size
11,520 SF
Asset Type
Development Site
Closing
Jan 31, 2023
AI
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.
Derby Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93