Carey Tajfel Sells Hotel In Toms River, NJ For $22.35M With Steven Vegh - Westwood Realty Associates
SOLD
$22,350,000
New Jersey
See Similar DealsHotel108,000 SF
Sold 11/01/2022
SOLD
Carey Tajfel Sells Hotel In Toms River, NJ For $22.35M With Steven Vegh - Westwood Realty Associates
2373 US-9 Toms River, NJ 08755, USA
See Similar DealsHotel108,000 SF
Sold 11/01/2022
Summary
NEW JERSEY
Asset Type:Hotel
Price Per Square Foot:$206
Total Square Footage:108,000 SF
Transaction Type:Sale
Located at 2373 US-9 in Toms River, NJ, this property transaction involves the sale of a hotel. The transaction was closed on November 1, 2022, with a sale price of $22,350,000. The hotel has a total area of 108,000 square feet, resulting in a price per square foot of $207. The seller in this transaction is Carey Tajfel.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $22,350,000
- Address: 2373 US-9, Toms River, NJ
- Market: Toms River, NJ
The transaction was facilitated by Steven Vegh of Westwood Realty Associates, representing the seller, Carey Tajfel. Steven Vegh served as the broker for this deal. It is worth noting that the current hotel will be converted into a building consisting of office suites.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,192,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$79,404.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$105,950.40
Annual Debt Service$1,271,404.83
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