Betsy & Edward Zimmerman Acquire Residential Property In Summit, NJ For $6.3M
SOLD
$6,300,000
New Jersey
See Similar DealsCo-Op8,798 SF
Sold 12/10/2021
SOLD
Betsy & Edward Zimmerman Acquire Residential Property In Summit, NJ For $6.3M
40 Beekman Terrace, Summit, New Jersey 07901, United States
See Similar DealsCo-Op8,798 SF
Sold 12/10/2021
Summary
NEW JERSEY
Asset Type:Co-Op
Price Per Square Foot:$716
Total Square Footage:8,798 SF
Transaction Type:Sale
The residential property located at 40 Beekman Ter in Summit, NJ has been sold in a transaction dated 12/10/2021. The property spans 8,798 square feet and was sold for a price of $6,300,000, resulting in a price per square foot of $716.
Summary of transaction details
- Property Type: Residential
- Transaction Amount: $6,300,000
- Address: 40 Beekman Ter, Summit, NJ
- Square Footage: 8,798
- Buyer: Betsy A Zimmerman & Edward M Zimmerman
- Seller: Amy Schiffer, Craig Schiffer & Amy Elizabeth Schiffer
The buyers of the property are Betsy A Zimmerman and Edward M Zimmerman. The sellers of the property are Amy Schiffer, Craig Schiffer, and Amy Elizabeth Schiffer.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$336,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,382.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,865.21
Annual Debt Service$358,382.57
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