Updated Oct 28, 2024
Legacy Capital Acquires Industrial Property In Carlstadt, NJ For $13M
2 Palmer Terrace, Carlstadt, NJ 07072, USA
$13,000,000
$215/SF
Building Size
60,400 SF
Asset Type
Industrial
Closing
Jun 1, 2020
About this deal
AI
Legacy Capital has acquired an industrial property located at 2 Palmer Terrace in Carlstadt, NJ. The property, spanning 60,400 square feet, was sold by Palmer Terrace Realty Associates for a total price of $13,000,000. This translates to a price per square foot of $215. The property sits on a 3-acre lot with an average price per acre of $4,333,333.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $13,000,000
- Square Footage: 60,400
- Address: 2 Palmer Terrace
- Market: Carlstadt, NJ
The deal was facilitated by the brokers Marc Duval and Jordan Avanzato from JLL.
Players
Carlstadt 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
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93