Updated Nov 3, 2026
SOLDIndustrial
ILearn Schools & Facilities Acquires 42 Hepworth Place Industrial Property In Garfield For $5.3M
42 Hepworth Place
$5,300,000
$110/SF
Building Size
48,000 SF
Asset Type
Industrial
Closing
Oct 30, 2026
About this deal
AI
The transaction involved the sale of an industrial property located at 42 Hepworth Place in Garfield, NJ. The property spans 48,000 square feet and is situated on 1.84 acres. It was sold for $5,300,000, translating to a price per square foot of $110. The site was previously occupied by a zipper manufacturing operation and is located within a designated Area in Need of Redevelopment.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $5,300,000
- Square Feet: 48,000
- Price per Square Foot: $110
- Address: 42 Hepworth Place
- Market: Garfield
- Buyer: Nihat Guverein - iLearn Schools & Facilities
- Seller: Lewis Neuman & Abraham Levine
- Broker: Nick Rogers - Investment Property Realty Group (IPRG NJ)
Nihat Guverein, representing iLearn Schools & Facilities, is set to redevelop the acquired property for its own use. The transaction was brokered by Nick Rogers from Investment Property Realty Group, highlighting the involvement of experienced professionals in the closure of this significant deal.
On the Map
$5,300,000
$110/SF
Industrial
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Players
Garfield 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
2.99%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93