Tamry Management Inc Acquires Development Site From Ben Karash Empire Partners For $2.5M
96 100 Tuers Ave
$2,500,000
Building Size
—
Asset Type
Development Site
Closing
May 1, 2017
AI
The asset involved in the transaction is a development site located at 96 100 Tuers Ave in Jersey City. The sale was finalized for a price of $2,500,000.00, representing the market value for this location.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,500,000.00
- Buyer: Tamry Management Inc
- Seller: Ben Karash/Empire Partners
- Brokers: Eli Shilian, Yisroel Pershin, Moshe Goldberger (GFI Realty Services), Moshe Gelbstein (GFI Realty Services)
- Transaction Date: 05/01/2017
This transaction involved key individuals and companies participating in the deal. The buyer, Tamry Management Inc, acquired the property from seller Ben Karash, who is affiliated with Empire Partners. The brokerage team from GFI Realty Services, including Moshe Goldberger and Moshe Gelbstein, played a significant role in facilitating the transaction alongside Eli Shilian and Yisroel Pershin.
Players
Jersey City 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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93