Black Bear Asset Management ("BBAM") Acquires Development Site In Guttenberg NJ For $2.6M
SOLD
$2,600,000
New Jersey
See Similar DealsDevelopment Site
Sold 10/25/2024
SOLD
Black Bear Asset Management ("BBAM") Acquires Development Site In Guttenberg NJ For $2.6M
416 69th Street
See Similar DealsDevelopment Site
Sold 10/25/2024
Summary
NEW JERSEY
Asset Type:Development Site
Transaction Type:Sale
The asset involved in this transaction is a development site located at 416 69th Street in Guttenberg, NJ. The sale price for the property was $2,600,000.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $2,600,000
- Buyer: Black Bear Asset Management
- Seller: Guttenberg Capital 416-422 69th St, LLC
- Broker: Emil DePasquale - Black Bear Capital Partners
- Date of Transaction: 10/25/2024
Emil DePasquale represented Black Bear Asset Management in this transaction, facilitating the acquisition of the property from Guttenberg Capital 416-422 69th St, LLC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$138,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,237.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,325.33
Annual Debt Service$147,903.92
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