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Kislak Brokers Tom Scatuorchio & Andrew Scheinerman Facilitate $11.8M Multifamily Sale In Belleville, NJ

Property Image
SOLD
$11,800,000

New Jersey

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MultiFamily
Sold 11/10/2023
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Property Image
SOLD

Kislak Brokers Tom Scatuorchio & Andrew Scheinerman Facilitate $11.8M Multifamily Sale In Belleville, NJ

1 Brighton Avenue & 13-53 Brighton Avenue

See Similar Deals
MultiFamily
Sold 11/10/2023
Contact now

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

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.

Players

Tom Scatuorchio
16 deals$92.6M volume(908) 675-5703
BROKER

Andrew Scheinerman
Kislak
7 deals$142.1M volume
BROKER

Details

SOLD
IMAGE: Tom Scatuorchio & Andrew Scheinerman DATE: 11/10/2023 ADDRESS: 1 & 13-53 Brighton Avenue MARKET: Belleville, NJ ASSET TYPE: Multifamily BROKERS: Tom Scatuorchio (@TScatuorchio) & Andrew Scheinerman (@A_Scheiny) - Kislak (@KislakCompany) SALE PRICE: $11,800,000 UNITS: 95 ~ PPU: $124,211

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Deal Type
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