Arvin Patel Purchases Development Site From Jonathan Masi In Clark For $2.5M
211 Westfield Avenue
$2,500,000
$469/SF
Building Size
5,324 SF
Asset Type
Development Site
Closing
Oct 27, 2025
AI
The property asset involved in this transaction is a development site located at 211 Westfield Avenue in Clark. The transaction achieved a sale price of $2,500,000, with a total square footage of 5,324, resulting in a price per square foot of $469.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,500,000
- Address: 211 Westfield Avenue
- Market: Clark
- Square Footage: 5,324
- Price Per Square Foot: $469
- Buyer: Arvin Patel
- Seller: Jonathan Masi
- Broker: Jason Trembicki - TIP Commercial
This transaction involved key individuals, with Arvin Patel acting as the buyer and Jonathan Masi as the seller. The deal was facilitated by Jason Trembicki, representing TIP Commercial as the broker for the transaction.
Players
Clark Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93