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2 Plane Street, Boonton, NJ...

River Walk LLC Acquires Industrial Property In Boonton For $2.1M
SOLDIndustrial

River Walk LLC Acquires Industrial Property In Boonton For $2.1M

2 Plane Street, Boonton, NJ, USA

$2,100,000

$42/SF

Building Size

50,000 SF

Asset Type

Industrial

Closing

Dec 11, 2020

AI

The industrial property located at 2 & 30 Plane Street in Boonton has been sold. The transaction, which took place on December 20, was facilitated by James Costanzo from Charity Realty International. The property spans approximately 50,000 square feet and was sold for a price of $2,100,000, resulting in a price per square foot of $42.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $2,100,000
  • Date: December 20
  • Address: 2 & 30 Plane Street, Boonton
  • Market: Boonton
  • Buyer: River Walk LLC
  • Broker: James Costanzo - Charity Realty International
  • Square Footage: 50,000 sf
  • Price per Square Foot: $42

The buyer of the property was River Walk LLC, while James Costanzo represented both parties as the broker from Charity Realty International.

Players

James Costanzo

Broker

$5.2M

vol

3 deals

Broker

Boonton 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

7.55%

Cash-on-Cash

-2.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93