The Cobblers Loft, LLC Acquires Mixed-Use Property In Newton, NJ For $22.58M
69 Sparta Avenue, Sparta, NJ 07871
$22,580,000
$10,453/SF
Building Size
2,160 SF
Asset Type
Mixed-use
Closing
Jul 14, 2020
AI
The mixed-use property located at 69-75 Sparta Avenue in Newton, NJ has been sold for a total of $22,580,000. The transaction took place on 07/14/2021. The property consists of 101 units, with each unit having a price per unit (PPU) of $223,564.
Summary of Transaction Details
- Property Type: Mixed-use
- Transaction Amount: $22,580,000
- Date: 07/14/2021
- Address: 69-75 Sparta Avenue, Newton, NJ
- Market: Newton, NJ
The buyer of the property is The Cobblers Loft, LLC. The sale was facilitated by Joseph Keenan and Justin Lupo, representing Kislak Company.
Players
Sparta Township 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
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93