Updated Dec 21, 2023
Bhorat Naik Acquires Hotel In Edison, NJ For $2.33M
610 US Route 1, Edison, New Jersey 08817, United States
$2,330,000
Building Size
—
Asset Type
Hotel
Closing
Apr 24, 2022
About this deal
AI
The sale of a Hotel/Motel/Hostel/B&B property located at 610 United States Rt 1 in Edison, NJ took place on April 25, 2022. The transaction involved a purchase price of $2,330,000. The buyer, Bhorat Naik, acquired the property from the seller, Kundan Patel.
Summary of transaction details:
- Property Type: Hotel/Motel/Hostel/B&B
- Transaction Amount: $2,330,000
- Address: 610 United States Rt 1, Edison, NJ
- Market: Edison, NJ
Bhorat Naik acted as the buyer in this transaction, while Kundan Patel represented the seller. The sale of this property marks an important milestone in the real estate market of Edison, NJ.
Players
Edison Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.81%
Cash-on-Cash
-1.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93