Moshe Silberman Acquires Development Site In Newark For $1.375M From Akash Vijan
51 53 Lincoln Park
$1,375,000
$96/SF
Building Size
14,270 SF
Asset Type
Development Site
Closing
Aug 27, 2025
AI
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
Newark 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
11.54%
Cash-on-Cash
-3.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93