Aldine Capital Acquires Development Site In Newark For $3.9M
SOLD
$3,900,000
New Jersey
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Sold
SOLD
Aldine Capital Acquires Development Site In Newark For $3.9M
2 Ogden Street, Newark, New Jersey 07104, United States
See Similar DealsDevelopment Site
Sold
Summary
NEW JERSEY
Asset Type:Development Site
Transaction Type:Sale
A development site located at 2 Ogden St in Newark was recently sold for a price of $3,900,000. The property was sold on 03/31/2022 and the transaction was facilitated by Joe Peixinho and Ely Mesquita from PRE Real Estate Services.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,900,000
- Address: 2 Ogden St, Newark
- Market: Newark
Aldine Capital LLC was the buyer of the development site. Joe Peixinho and Ely Mesquita, representing PRE Real Estate Services, acted as the brokers in the deal. The sale of the property signifies a significant transaction in the Newark market, highlighting the demand for development sites in the area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$208,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,855.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,487.99
Annual Debt Service$221,855.88
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