Updated Oct 28, 2024
Sparta Residence LLC Acquires Multifamily Property On Prosper Pl In Sparta For $14.65M
1 Prosper Pl, Sparta, NJ, USA
$14,650,000
$55/SF
Building Size
264,758 SF
Asset Type
MultiFamily
Closing
Apr 26, 2021
About this deal
AI
Located at 1 Prosper Pl in Sparta, this multifamily property was recently sold in a transaction facilitated by Stephen Tragash of Gebroe-Hammer Associates. The property, consisting of 60 units, was sold by NV MF Holdings LLC to Sparta Residence LLC for a total price of $14,650,000. This equates to a per unit price of $244,167. The property sits on 90 acres, with a price per acre of $162,778.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $14,650,000
- Address: 1 Prosper Pl, Sparta
- Market: Sparta
- Units: 60
- Price per Unit: $244,167
- Total Acres: 90
- Price per Acre: $162,778
Stephen Tragash of Gebroe-Hammer Associates represented Sparta Residence LLC in this transaction as their broker. This sale showcases the expertise and professionalism of the individuals involved in the deal.
On the Map
$14,650,000
$55/SF
MultiFamily
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Players
Sparta 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
1.08%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93