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260 Washington Avenue

Sherif Elfar Acquires Development Site In Belleville For $5 Million With Brokers Jason Trembicki And Bruce Elia Jr
SOLDDevelopment Site

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:

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

Jason Trembicki

Broker

$60.1M

vol

10 deals

Broker

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