Updated Apr 9, 2025
Puroclean Newark Acquires Industrial Asset From Allen Blum In Newark For $1.135M
119 121 South 15th Street
$1,135,000
$283/SF
Building Size
4,000 SF
Asset Type
Industrial
Closing
Mar 28, 2025
About this deal
AI
The property asset involved in the context is an industrial asset located at 119-121 South 15th Street in Newark. The sale price for the property was $1,135,000, with a total square footage of 4,000, resulting in a price per square foot of $283.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,135,000
- Address: 119-121 South 15th Street
- Market: Newark
- Square Footage: 4,000
- Price Per Square Foot: $283
- Buyer: Puroclean Newark
- Seller: Allen Blum
- Broker: Jack Maier - Newmark Associates
The key individuals involved in the transaction include Puroclean Newark as the buyer and Allen Blum as the seller. Jack Maier from Newmark Associates represented the broker in this real estate deal.
Players
Newark Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
13.98%
Cash-on-Cash
-3.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93