Joe Kotler's Horizon Equities Acquires Mixed-Use Portfolio In Ocean County NJ For $46M
931 Fischer Boulevard, Toms River, New Jersey 08753, United States
$46,000,000
$148,387/SF
Building Size
310 SF
Asset Type
Mixed-use
Closing
Dec 19, 2022
AI
The mixed-use property located at 931 Fischer Blvd, 2850 Yorktown Blvd, 1 & 3 Plaza Drive, 31 & 600 Mule Road, 190 St Catherine Blvd, 730 & 730 Jamaica Blvd, and 9 Wrangle Brook Road in Ocean County NJ, Toms River, has been sold in a closed transaction. The sale was completed on 12/19/2022. The property spans a total of 310,000 square feet and is valued at $46,000,000. The price per square foot amounts to $148.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $46,000,000
- Buyer: Joe Kotler (linkedin.com/in/kotlerjoe) - Horizon Equities (linkedin.com/company/horizon-equities?trk=public_profile_topcard-current-company)
- Seller: Edele Hovnanian
- Brokers: Alan Cafiero, Brent Hyldahl & Seth Goldberg - Marcus & Millichap
The transaction was facilitated by brokers Alan Cafiero, Brent Hyldahl, and Seth Goldberg from Marcus & Millichap. The involvement of these individuals and companies showcases their roles in representing the buyer and seller in the closed transaction.
Players
Toms River 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
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93