Arvin Patel Purchases Development Site From Jonathan Masi In Clark For $2.5M
SOLD
$2,500,000
New Jersey
See Similar DealsDevelopment Site5,324 SF
Sold 10/28/2025
SOLD
Arvin Patel Purchases Development Site From Jonathan Masi In Clark For $2.5M
211 Westfield Avenue
See Similar DealsDevelopment Site5,324 SF
Sold 10/28/2025
Summary
NEW JERSEY
Asset Type:Development Site
Price Per Square Foot:$469
Total Square Footage:5,324 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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