Moshe Silberman Purchases Development Site At 67-69 Lincoln Park From Akash Vijan For $1.375M
67 69 Lincoln Park
$1,375,000
$74/SF
Building Size
18,484 SF
Asset Type
Development Site
Closing
Aug 27, 2025
AI
The property involved in this transaction is a development site located at 67-69 Lincoln Park in Newark. The sale was finalized for a total amount of $1,375,000, encompassing a square footage of 18,484. The price per square foot stands at $74.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,375,000
- Address: 67-69 Lincoln Park
- Market: Newark
- Square Footage: 18,484
- Price per Square Foot: $74
- Buyer: Moshe Silberman
- Seller: Akash Vijan
- Brokers: Joseph Domenech & Joseph Spinella - KW Commercial; Henry Eisenstein - EXP Realty
This transaction involved key representatives in the real estate sector. Joseph Spinella, reachable at 732-837-2832, is the Director of Commercial Real Estate at KW, offering expertise related to commercial real estate. Joseph Domenech also served as a broker from KW Commercial, while Henry Eisenstein represented EXP Realty in the deal.
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