Joseph Sanzari Sells Industrial Property In Elmwood Park, NJ For $17.75M
SOLD
$17,750,000
New Jersey
See Similar DealsIndustrial40,000 SF
Sold 03/28/2024
SOLD
Joseph Sanzari Sells Industrial Property In Elmwood Park, NJ For $17.75M
19 Wallace Street
See Similar DealsIndustrial40,000 SF
Sold 03/28/2024
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$443
Total Square Footage:40,000 SF
Transaction Type:Sale
The industrial property located at 19 Wallace Street in Elmwood Park, NJ, was sold for $17,750,000. The asset spans 40,000 square feet, resulting in a price per square foot of $444.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $17,750,000
- Address: 19 Wallace Street
- Market: Elmwood Park, NJ
- Seller: Joseph Sanzari - Sanzari Companies
- Brokers: Steven Bentolila - Bento Property Group; Solomon Michailow - S2 Property Group
- SF: 40,000
- PPSF: $444
Steven Bentolila from Bento Property Group and Solomon Michailow from S2 Property Group were the brokers involved in facilitating this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$946,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$63,062.00
Cash-on-Cash Return-1.27%
Monthly Debt Service$84,144.06
Annual Debt Service$1,009,728.67
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