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2 Carrington Ct

Jaikaran Ramharack Sells Mixed Use Property In Montclair, NJ For $2.1M
SOLDDevelopment Site

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.

Players

Marcos Claudius, CCIM

Keller Williams Realty

Broker

$10.3M

vol

4 deals

Broker

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