Reynolds Asset Management Sells Mixed-Use Property In Bound Brook, NJ For $22M
7-15 West Main Street, Bound Brook, New Jersey 08805, United States
$22,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Apr 17, 2023
AI
A mixed-use property located at 7-15 W Main St in Bound Brook, NJ has been sold for $22,000,000. The property consists of 63 units, resulting in a price per unit of $349,206. The sale was facilitated by Joni Sweetwood and Robert Squires from The Kislak Company, Inc, representing the seller, Reynolds Asset Management, with Lou Reynolds as their representative.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $22,000,000
- Units: 63
- Price Per Unit: $349,206
- Address: 7-15 W Main St, Bound Brook, NJ
- Seller: Reynolds Asset Management - Lou Reynolds
- Brokers: Joni Sweetwood & Robert Squires - The Kislak Company, Inc
Joni Sweetwood and Robert Squires from The Kislak Company, Inc played a pivotal role in ensuring the successful transaction of the mixed-use property located at 7-15 W Main St in Bound Brook, NJ. With a wealth of experience and expertise, they effectively represented the seller, Reynolds Asset Management, with Lou Reynolds serving as their representative. This deal showcases the proficiency and professionalism of all the parties involved, contributing to its smooth execution.
Players
Bound Brook 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
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93