Jeff Silverman Of Silverman Group Acquires 71,746 Square Foot Industrial Warehouse In Newark
70 Gould Avenue
Building Size
71,746 SF
Asset Type
Industrial
Closing
Aug 3, 2026
AI
The asset involved in the transaction is a 71,746-square-foot industrial warehouse located at 70 Gould Avenue in Newark, NJ. This property encompasses a 2.864-acre infill site and includes outdoor storage and a trailer yard. The sale was conducted off-market, with the purchase price not disclosed. The acquisition is part of strategic growth in the northern New Jersey industrial sector.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Undisclosed
- Square Footage: 71,746
- Address: 70 Gould Avenue
- Market: Newark, NJ
- Buyer: Jeff Silverman - Silverman Group
Jeff Silverman, representing the Silverman Group, has successfully acquired the property with plans to reposition the asset. The firm aims to leverage the increasing demand for strategically located warehouse spaces within the area.
Mechanicsville 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93