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Brookfield Acquires Industrial Property In Saddle Brook, NJ For $13M

Property Image
SOLD
$13,000,000

New Jersey

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Industrial65,000 SF
Sold 08/14/2023
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Property Image
SOLD

Brookfield Acquires Industrial Property In Saddle Brook, NJ For $13M

386 N Midland Ave Saddle Brook, NJ 07663, USA

See Similar Deals
Industrial65,000 SF
Sold 08/14/2023
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Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$200
Total Square Footage:65,000 SF
Transaction Type:Sale

Located at 386-404 N Midland Avenue in Saddle Brook, NJ, this industrial property has recently been sold. The transaction took place on August 14, 2023, with the buyer being Brookfield and the seller Motti Ty. The property comprises a total of 65,000 square feet and was sold for a price of $13,000,000, resulting in a price per square foot of $200.

Summary of transaction details

The deal was facilitated by Yehuda Goltche and Itanel Rahmani of Venture Capital Properties, who served as the brokers for this transaction.

Players

Itanel (Itan) Rahmani
29 deals$481.9M volume
BROKER

Yehuda Goltche
FlowerRe
7 deals$223.8M volume(646) 421-0540
BROKER

Yehuda Goltche
FlowerRe
7 deals$223.8M volume(646) 421-0540
BROKER

Brookfield Properties
BROKERAGE

Details

SOLD
IMAGE: Yehuda Goltche & Itanel Rahmani DATE: 08/14/2023 ADDRESS: 386-404 N Midland Avenue MARKET: Saddle Brook, NJ ASSET TYPE: Industrial BUYER: Brookfield SELLER: Motti Ty BROKERS: Yehuda Goltche (@YehudaGoltche) & Itanel Rahmani (@ItanRah) - Venture Capital Properties SALE PRICE: $13,000,000 SF: 65,000 ~ PPSF: $200

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$693,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$46,186.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,626.63
Annual Debt Service$739,519.59