Novus Landmark Sells Development Site In East Orange For $4.15M - CBRE Brokers Handle The Deal
SOLD
$4,150,000
+ 1
New Jersey
See Similar DealsDevelopment Site
Sold 01/25/2023
SOLD
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
See Similar DealsDevelopment Site
Sold 01/25/2023
+ 1
Summary
NEW JERSEY
Asset Type:Development Site
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$221,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,744.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,673.12
Annual Debt Service$236,077.41
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