Brian Milberg Acquires Industrial Property In Newark, NJ For $25M
SOLD
$25,000,000
New Jersey
See Similar DealsIndustrial
Sold 02/25/2022
SOLD
Brian Milberg Acquires Industrial Property In Newark, NJ For $25M
979 Delancey Street, Newark, New Jersey 07105, United States
See Similar DealsIndustrial
Sold 02/25/2022
Summary
NEW JERSEY
Asset Type:Industrial
Transaction Type:Sale
The industrial property located at 921-979 Delancy St in Newark, NJ has been sold for a price of $25,000,000. The transaction took place on February 25, 2022.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $25,000,000
- Buyer: Brian Milberg
- Seller: Timothy B. Goodell
- Address: 921-979 Delancy St, Newark, NJ
- Market: Newark, NJ
The buyer of this industrial property is Brian Milberg, while Timothy B. Goodell is the seller. The deal was concluded for a total amount of $25,000,000 on February 25, 2022.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,333,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$88,819.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,512.75
Annual Debt Service$1,422,153.05
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