facebook
Traded Co logo
Submit

Gebroe-Hammer Associates Facilitates $14.5 Million Sale Of 53-Unit Multifamily Property In Summit

Property Image
SOLD
$14,500,000

New Jersey

See Similar Deals
MultiFamily
Sold 07/14/2022
the dealplayerscompscontact
Property Image
SOLD

Gebroe-Hammer Associates Facilitates $14.5 Million Sale Of 53-Unit Multifamily Property In Summit

10 33 Beech St, Summit, Nj 07901

See Similar Deals
MultiFamily
Sold 07/14/2022
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale

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.

Players

David Jarvis
11 deals$260.4M volume
BROKER

Details

SOLD
IMAGE: David Jarvis DATE: 07/14/2022 ADDRESS: 10-33 Beech St MARKET: Summit ASSET TYPE: Multifamily BROKER: David Jarvis - Gebroe-Hammer Associates SALE PRICE: $14,500,000 UNITS: 53 ~ PPU: $273,585

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$773,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$51,515.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$68,737.40
Annual Debt Service$824,848.77