Updated Oct 29, 2024
RiverBrook Equities Acquires Hotel In Tom's River, NJ For $13.5M With Meyer Futersak - Cedarwood Group
815 NJ-37 Toms River, NJ 08755, USA
$13,500,000
$180/SF
Building Size
75,000 SF
Asset Type
Hotel
Closing
Jul 27, 2023
About this deal
AI
The hotel located at 815 Route 37 West in Tom’s River, NJ has been sold for a total price of $13,500,000. The property spans across 75,000 square feet, resulting in a price per square foot of $180.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $13,500,000
- Square Footage: 75,000
- Price per Square Foot: $180
- Address: 815 Route 37 West, Tom’s River, NJ
- Market: Tom’s River, NJ
The buyer for this hotel property is RiverBrook Equities. The deal was facilitated by Meyer Futersak of Cedarwood Group, who acted as the broker in the transaction.
On the Map
$13,500,000
$180/SF
Hotel
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Toms River Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93