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Tamry Management Inc Acquires Development Site From Ben Karash Empire Partners For $2.5M

Property Image
SOLD
$2,500,000
Moshe Goldberger
+ 1

New Jersey

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Development Site
Sold 05/01/2017
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Property Image
SOLD

Tamry Management Inc Acquires Development Site From Ben Karash Empire Partners For $2.5M

96 100 Tuers Ave

See Similar Deals
Development Site
Sold 05/01/2017
Moshe Goldberger
+ 1
Contact now

Summary

NEW JERSEY
Asset Type:Development Site
Transaction Type:Sale

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:

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

ES
6 deals$87.3M volume
BROKER


Moshe Goldberger
GFI Realty Services
17 deals$40M volume
BROKER

7 deals$50.3M volume
BROKER

Details

SOLD
IMAGE: 05/01/2017 ADDRESS: 96 100 Tuers Ave MARKET: Jersey City ASSET TYPE: Development Site BROKERS: Eli Shilian(), Yisroel Pershin(), Moshe Goldberger(GFI Realty Services), Moshe Gelbstein(GFI Realty Services) BUYER: Tamry Management Inc SELLER: Ben Karash/Empire Partners PRICE: $2,500,000.00

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Deal Type
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