Sherif Elfar Acquires Development Site In Belleville For $5 Million With Brokers Jason Trembicki And Bruce Elia Jr
260 Washington Avenue
$5,000,000
$200/SF
Building Size
25,000 SF
Asset Type
Development Site
Closing
Nov 3, 2025
AI
A development site located at 260 Washington Avenue in Belleville has been sold. The transaction was completed for a sale price of $5,000,000, encompassing a total square footage of 25,000, equating to a price per square foot of $200.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $5,000,000
- Address: 260 Washington Avenue
- Market: Belleville
- Square Footage: 25,000
- Price per Square Foot: $200
- Buyer: Sherif Elfar
- Seller: Jason Trembicki & Bruce Elia Jr
- Broker Representatives: Jason Trembicki, Marcos Claudius, CCIM & Bruce Elia - Keller Williams Realty
The deal involved key individuals Jason Trembicki and Bruce Elia Jr as sellers, along with Sherif Elfar as the buyer. The transaction was facilitated by broker representatives from Keller Williams Realty, specifically Jason Trembicki, Marcos Claudius, CCIM, and Bruce Elia.
Players
Belleville 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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93