Novus Landmark Sells Development Site In East Orange For $4.15M - CBRE Brokers Handle The Deal
1 South Burnett Street, East Orange, New Jersey 07018, United States
$4,150,000
Building Size
—
Asset Type
Development Site
Closing
Jan 25, 2023
AI
Novus Landmark has sold a development site located at 1 South Burnet Street in East Orange. The property was sold for $4,150,000 on January 25, 2023. The site is situated in a prime location and offers great potential for development.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $4,150,000
The sale of the property was facilitated by CBRE brokers Jeff Dunne, Stuart MacKenzie, Eric Apfel, and Travis Langer. Their expertise and negotiation skills played a crucial role in closing the deal successfully.
Players
East Orange Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.82%
Cash-on-Cash
-1.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93