Faropoint Acquires Industrial Property In Meadowlands For $17.7M
SOLD
$17,700,000
New Jersey
See Similar DealsIndustrial62,000 SF
Sold
SOLD
Faropoint Acquires Industrial Property In Meadowlands For $17.7M
121 Moonachie Avenue, Moonachie, New Jersey 07074, United States
See Similar DealsIndustrial62,000 SF
Sold
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$285
Total Square Footage:62000 SF
Transaction Type:Sale
121 Moonachie Avenue, located in the Meadowlands, was recently sold in a closed transaction. The industrial property spans approximately 62,000 square feet and was sold for a price of $17,700,000, resulting in a price per square foot of $285. The buyer in this transaction was Faropoint, represented by Orry Michael. The seller was Triangle Services.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $17,700,000
- Square Footage: 62,000
- Price Per Square Foot: $285
- Address: 121 Moonachie Avenue
- Market: Meadowlands
The deal was facilitated by the brokers David Schechtman and David Benharouch from Meridian Capital Group.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$943,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$62,884.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$83,907.03
Annual Debt Service$1,006,884.36
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