Jay Soni & Justin Passaretti Acquire 9.75-acre Industrial Property In Elizabeth, NJ For $46.5M
711 Lidgerwood Avenue
$46,500,000
Building Size
—
Asset Type
Industrial
Closing
Aug 11, 2022
AI
An industrial property located at 711 Lidgerwood Avenue in Elizabeth, NJ has been sold in a transaction with a sale price of $46,500,000. The property encompasses approximately 9.75 acres and is situated in the market of Elizabeth, NJ.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $46,500,000
- Address: 711 Lidgerwood Avenue
- Market: Elizabeth, NJ
- Acres: 9.75
The buyer of the property is Jay Soni and Justin Passaretti, representing Xebec. The sale was facilitated by broker Bill Waxman from Cushman & Wakefield.
Players
Elizabeth 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
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93