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1 Park Square, Rahway, NJ, ...

Updated Oct 29, 2024

One Wall Partners Acquires Property In Rahway For $34.9 Million Represented By Kevin O'Hearn JLL
SOLDMultiFamily

One Wall Partners Acquires Property In Rahway For $34.9 Million Represented By Kevin O'Hearn JLL

1 Park Square, Rahway, NJ, 07065

$34,900,000

Units

159

Asset Type

MultiFamily

Closing

Jan 21, 2019

About this deal

AI

The transaction involved the sale of Park Square, an apartment complex located at 1 Park Square, Rahway, NJ, 07065. The property comprises 159 units distributed across two adjacent four-story buildings that were completed in 2009 and 2011. Additionally, the complex features 6,000 square feet of ground-floor retail space. The total transaction amount was $34,900,000.

Summary of transaction details:

  • Property Type: Apartment Complex
  • Transaction Amount: $34,900,000.00
  • Address: 1 Park Square, Rahway, NJ, 07065
  • Market: Rahway
  • Buyer's Name: One Wall Partners
  • Seller's Representative: Kevin O’Hearn (JLL)
  • Seller: Roseland Residential Trust
  • Broker Team: Jose Cruz, Kevin O’Hearn, Stephen Simonelli, and Mark Mahasky (HFF)

The representation for the seller was handled by Kevin O’Hearn of JLL, alongside a team from HFF that included Jose Cruz, Stephen Simonelli, and Mark Mahasky, who negotiated the sale. One Wall Partners was identified as the buyer of this property.

Players

Steve Simonelli

JLL

Broker

$4.9B

vol

66 deals

Broker

Rahway 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

0.45%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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