Updated Dec 4, 2024
Isaac Sebbag Of Golden Sky Equities Secures $4.85M Refinance For Development Site In Elizabeth
225-229 Broad Street
$4,850,000
$162/SF
Building Size
29,892 SF
Asset Type
Development Site
Closing
Sep 3, 2024
About this deal
AI
The property asset involved in the transaction is a development site located at 225-229 Broad Street in Elizabeth. The site encompasses a total square footage of 29,892 and is part of a mid-market value add focus by Golden Sky Equities.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,850,000
- Loan Type: Refinance
- Landlord: Isaac Sebbag - Golden Sky Equities
- Broker: Michael Weisz - Aandar Real Estate Capital
Isaac Sebbag, representing Golden Sky Equities, continues to prioritize investments in multi-family and mixed-use real estate, indicating potential for future acquisitions and partnerships. Michael Weisz of Aandar Real Estate Capital facilitated this refinancing deal to support their operational strategies.
On the Map
$4,850,000
$162/SF
Development Site
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Players
Elizabeth Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.27%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93