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7-15 West Main Street, Boun...

Reynolds Asset Management Sells Mixed-Use Property In Bound Brook, NJ For $22M
SOLDMixed-use

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

Joni Sweetwood

Kislak

Broker

$420.4M

vol

31 deals

Broker

Lou Reynolds

Reynolds Asset Management

Seller

$28.7M

vol

2 deals

Seller

Bound Brook Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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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