Gebroe-Hammer Associates Facilitates $14.5 Million Sale Of 53-Unit Multifamily Property In Summit
10 33 Beech St, Summit, Nj 07901
$14,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 13, 2022
AI
A multifamily property located at 10-33 Beech St in Summit has recently been sold for a total price of $14,500,000. The property consists of 53 units, resulting in a per unit price of $273,585. The transaction took place on July 14, 2022, and the sale was facilitated by David Jarvis from Gebroe-Hammer Associates.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $14,500,000
- Units: 53
- Price Per Unit: $273,585
- Address: 10-33 Beech St
- Market: Summit
Detailed brokerage services were provided by David Jarvis, representing Gebroe-Hammer Associates, in this successful transaction. The involvement of experienced professionals like David ensures the smooth execution of the deal and the satisfaction of all parties involved.
Summit 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
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93