Updated Oct 28, 2024
Aldine Capital Acquires Development Site In Newark For $3.9M
2 Ogden Street, Newark, New Jersey 07104, United States
$3,900,000
Building Size
—
Asset Type
Development Site
Closing
Mar 30, 2022
About this deal
AI
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.
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
4.07%
Cash-on-Cash
-1.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93