Meyer Futersak Of Cedarwood Group Acquires Hotel In Iselin For $20.9M
SOLD
$20,900,000
New Jersey
See Similar DealsHotel220,603 SF
Sold 04/30/2025
SOLD
Meyer Futersak Of Cedarwood Group Acquires Hotel In Iselin For $20.9M
515 Us Highway 1 S
See Similar DealsHotel220,603 SF
Sold 04/30/2025
Summary
NEW JERSEY
Asset Type:Hotel
Price Per Square Foot:$94
Total Square Footage:220,603 SF
Transaction Type:Sale
The property asset involved in the transaction is a hotel located at 515 US Highway 1 S in Iselin. The sale price of the asset amounts to $20,900,000, with a total square footage of 220,603, resulting in a price per square foot of $94. The hotel comprises 312 keys, with a price per key of $66,987.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $20,900,000
- Square Footage: 220,603
- Price per Square Foot: $94
- Keys: 312
- Price per Key: $66,987
- Buyer: Meyer Futersak - Cedarwood Group
- Date of Transaction: 04/30/2025
- Market: Iselin
The transaction was represented by Meyer Futersak from Cedarwood Group, who is actively seeking additional hotel assets around the US.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,114,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$74,253.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$99,076.66
Annual Debt Service$1,188,919.95
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