Updated Oct 28, 2024
Star Glo Sells 6.0 Acre Development Site In East Rutherford For $10M
2 Carlton Avenue, East Rutherford, New Jersey 07073, United States
$10,000,000
$56/SF
Building Size
177,000 SF
Asset Type
Development Site
Closing
Dec 22, 2021
About this deal
AI
A development site located at 2 Carlton Avenue in East Rutherford has been sold for $10,000,000. The property spans across 6.0 acres and is zoned for industrial use. It offers a total of 177,000 square feet of space. The sale was facilitated by the Marmarou Team, representing Star Glo Inc, in a sale-leaseback transaction. The property was sold with no contingencies.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $10,000,000
- Address: 2 Carlton Avenue
- Market: East Rutherford
The Marmarou Team, consisting of Yanni Marmarou and Jack Drillock (JDrills21), represented Star Glo Inc in the sale of the property. B6 Real Estate Advisors served as the brokers in the deal. For more information, please visit www.theMarmarouTeam.com.
Players
East Rutherford 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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93