Daniel Lanni Of Kislak Represents Sale Of Mixed-Use Property At 377 Smith Street For $2.4M
377 Smith Street
$2,400,000
$96/SF
Building Size
25,000 SF
Asset Type
Mixed-use
Closing
Dec 20, 2024
AI
The property asset involved in this transaction is a mixed-use building located at 377 Smith Street in the Perth Amboy market. The sale price for the asset was $2,400,000, with a total of 40 units, resulting in a price per unit of $60,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,400,000
- Address: 377 Smith Street
- Market: Perth Amboy
- Total Units: 40
- Price Per Unit: $60,000
- Sale Date: 12/20/2024
The deal involved broker Daniel Lanni who represented the transaction through Kislak. This representation outlines the brokerage's role in facilitating the sale of the mixed-use property.
Players
Perth Amboy Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93