RiverBrook Equities Acquires Hotel In Tom's River, NJ For $13.5M With Meyer Futersak - Cedarwood Group
SOLD
$13,500,000
New Jersey
See Similar DealsHotel75,000 SF
Sold 07/27/2023
SOLD
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
See Similar DealsHotel75,000 SF
Sold 07/27/2023
Summary
NEW JERSEY
Asset Type:Hotel
Price Per Square Foot:$180
Total Square Footage:75,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$720,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$47,962.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$63,996.89
Annual Debt Service$767,962.65
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