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
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.
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