Updated Nov 28, 2024
Thor Equities Group Acquires 10-Acre Development Site In Bogota, New Jersey For $50M
14 River Road, Bogota, New Jersey 07603, United States
$50,000,000
$333/SF
Building Size
150,000 SF
Asset Type
Development Site
Closing
Mar 22, 2022
About this deal
AI
A development site located at 14-22 River Road in Bogota, New Jersey has been sold for a price of $50,000,000. The site spans across 10 acres and is designated as a development opportunity. The transaction took place on March 23, 2022, and was completed by the buyer, Thor Equities Group, represented by Joseph Sitt, and the seller, Skybrook Capital.
Summary of Transaction Details:
- Property Type: Development Site
- Transaction Amount: $50,000,000
- Address: 14-22 River Road, Bogota, New Jersey
- Market: Bogota, New Jersey
- Asset Type: Development Site
- Total Acres: 10
Joseph Sitt, representing Thor Equities Group, played a crucial role as the buyer in this transaction. Skybrook Capital acted as the seller in the deal. The sale price of $50,000,000 reflects a significant investment in this prime development site.
Players
Bogota 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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93