Updated Dec 21, 2023
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
Units
53
Asset Type
MultiFamily
Closing
Jul 13, 2022
About this deal
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.
On the Map
$14,500,000
MultiFamily
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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