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96 100 Tuers Ave

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

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:

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

Eli Shilian

GFI Realty Services

Broker

$87.3M

vol

6 deals

Broker
TI
Tamry Management IncBuyer

Ben Karash/Empire Partners

Seller
Seller

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