Moshe Silberman Acquires Development Site In Newark For $1.375M From Akash Vijan
SOLD
$1,375,000
New Jersey
See Similar DealsDevelopment Site14,270 SF
Sold 08/28/2025
SOLD
Moshe Silberman Acquires Development Site In Newark For $1.375M From Akash Vijan
51 53 Lincoln Park
See Similar DealsDevelopment Site14,270 SF
Sold 08/28/2025
Summary
NEW JERSEY
Asset Type:Development Site
Price Per Square Foot:$96
Total Square Footage:14,270 SF
Transaction Type:Sale
The transaction involved a development site located at 51-53 Lincoln Park in Newark. The property was sold for a price of $1,375,000, covering an area of 14,270 square feet, which translates to a price per square foot of $96.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,375,000
- Buyer: Moshe Silberman
- Seller: Akash Vijan
- Broker Representatives: Joseph Domenech & Joseph Spinella - KW Commercial; Henry Eisenstein - EXP Realty
Joseph Spinella serves as the Director of Commercial Real Estate at KW and has provided his contact number, 732-837-2832, for those seeking assistance in commercial real estate.
Players
BROKERAGE
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$73,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,885.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,518.20
Annual Debt Service$78,218.42
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