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1213-1221 Broad Street

Jose Gomes Purchases Development Site On Broad Street In Newark For $1.2M With Brokers Yanni Marmarou Andrea Nestico And Tom Reynolds
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

Yanni Marmarou

Investment Property Realty Group (IPRG)

Broker

$150.8M

vol

36 deals

Broker

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