Updated Dec 4, 2024
Aaron Bloomberg Acquires Multifamily Property In Belvidere For $6.5M
2108 Christi Lane
$6,500,000
$89/SF
Building Size
73,000 SF
Asset Type
MultiFamily
Closing
Nov 10, 2023
About this deal
AI
A sale transaction has taken place for a multifamily property located at 2108 Christi Lane in Belvidere. The property consists of 92 units with a total square footage of 73,000. The sale price for this transaction was $6,500,000, resulting in a per unit price of $70,652 and a per square foot price of $89.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,500,000
- Address: 2108 Christi Lane, Belvidere
- Market: Belvidere
- Buyer: Aaron Bloomberg
- Seller: Carmen Galante
- Brokers: Eric Wagner & James Ziegler - Marcus & Millichap
The transaction was facilitated by brokers Eric Wagner and James Ziegler of Marcus & Millichap, who represented the parties involved in the deal. No additional details were provided regarding the financing of the transaction or any other relevant individuals or companies involved.
On the Map
$6,500,000
$89/SF
MultiFamily
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Players
Belvidere MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93