Jay Soni & Justin Passaretti Acquire 9.75-acre Industrial Property In Elizabeth, NJ For $46.5M
SOLD
$46,500,000
New Jersey
See Similar DealsIndustrial
Sold 08/11/2022
SOLD
Jay Soni & Justin Passaretti Acquire 9.75-acre Industrial Property In Elizabeth, NJ For $46.5M
711 Lidgerwood Avenue
See Similar DealsIndustrial
Sold 08/11/2022
Summary
NEW JERSEY
Asset Type:Industrial
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,479,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$165,204.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$220,433.72
Annual Debt Service$2,645,204.68
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