Updated Dec 4, 2024
Stefan Sansone & Jeff Milanaik Acquire Industrial Property In Somerset, NJ For $44M
230 Belmont Drive
$44,000,000
$289/SF
Building Size
152,000 SF
Asset Type
Industrial
Closing
Apr 20, 2023
About this deal
AI
Bridge Industrial has acquired an industrial property located at 230 Belmont Drive in Somerset, NJ. The property spans 152,000 square feet and was sold for a total price of $44,000,000, resulting in a price per square foot of $289.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $44,000,000
- Address: 230 Belmont Drive, Somerset, NJ
- Market: Somerset, NJ
The buyers, Stefan Sansone and Jeff Milanaik, represented Bridge Industrial in the purchase. On the seller's side, Ty Newland from Newland Capital and Neal Moskowitz from Stonemont Financial facilitated the deal.
On the Map
$44,000,000
$289/SF
Industrial
View full map
Players
Market Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Deal FAQ
Visit Stefan Sansone to view all their deals.
Browse New Jersey industrial sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93