Updated Sep 5, 2024
The Kislak Company, Inc Acquires Multifamily Property In Newark For $5.3M
1 Noll Place, Newark, New Jersey 07106, United States
$5,300,000
Units
45
Asset Type
MultiFamily
Closing
Mar 15, 2022
About this deal
AI
Two multifamily properties located at 1 & 2 Noll Place and 532 Sanford Avenue in Newark have been sold for a total price of $5,300,000. The sale was facilitated by Michael Salomon, Don Baxter, and Michael Kossak of The Kislak Company, Inc. The transaction took place on March 16, 2022.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $5,300,000
- Number of Units: 45
- Price Per Unit: $117,778
- Address: 1 & 2 Noll Place, 532 Sanford Avenue
- Market: Newark
The two properties consist of a total of 44 residential units and 1 retail space. The transaction between the buyer and seller was represented by Michael Salomon, Don Baxter, and Michael Kossak from The Kislak Company, Inc.
On the Map
$5,300,000
MultiFamily
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Players
Newark MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.99%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93