SOLDDevelopment Site
Jose Gomes Purchases Development Site On Broad Street In Newark For $1.2M With Brokers Yanni Marmarou Andrea Nestico And Tom Reynolds
1213-1221 Broad Street
$1,200,000
Building Size
—
Asset Type
Development Site
Closing
Nov 1, 2024
AI
The property asset involved in the transaction is a development site located at 1213-1221 Broad Street in Newark. The sale price for this asset was $1,200,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,200,000
- Buyer: Jose Gomes
- Seller: Jacob Tauber
- Brokers: Yanni Marmarou, Andrea Nestico & Tom Reynolds - Investment Property Realty Group (IPRG)
The brokers involved in this transaction, Yanni Marmarou, Andrea Nestico, and Tom Reynolds, represented the buyer and seller, facilitating the development site sale in Newark.
Players
Newark Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93