Kislak Brokers Tom Scatuorchio & Andrew Scheinerman Facilitate $11.8M Multifamily Sale In Belleville, NJ
SOLD
New Jersey
See Similar DealsMultiFamily
Sold 11/10/2023
SOLD
Kislak Brokers Tom Scatuorchio & Andrew Scheinerman Facilitate $11.8M Multifamily Sale In Belleville, NJ
1 Brighton Avenue & 13-53 Brighton Avenue
See Similar DealsMultiFamily
Sold 11/10/2023
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 1 & 13-53 Brighton Avenue in Belleville, NJ has been sold in a recent transaction. The property consists of 95 units and was sold for a total price of $11,800,000, resulting in a per unit price of $124,211.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $11,800,000
- Units: 95
- Price Per Unit: $124,211
- Brokers: Tom Scatuorchio & Andrew Scheinerman - Kislak
The deal was facilitated by brokers Tom Scatuorchio and Andrew Scheinerman of Kislak. They played a crucial role in representing the parties involved in the transaction, ensuring a successful sale of the property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$629,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$41,922.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$55,938.02
Annual Debt Service$671,256.24
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