Unknown Acquires Property At 100 Celecki Dr South Amboy For $43.4 Million With Seller's Reps Joseph Brecher And Greg Pine
SOLD
$43,400,000
New Jersey
See Similar DealsMultiFamily
SOLD
Unknown Acquires Property At 100 Celecki Dr South Amboy For $43.4 Million With Seller's Reps Joseph Brecher And Greg Pine
100 Celecki Dr, South Amboy, NJ, 08879
See Similar DealsMultiFamily
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
The property involved in the transaction is Bayside Cove, a 125-unit luxury apartment community located at 100 Celecki Dr, South Amboy, NJ, 08879. The sale price for this asset was $43,400,000. The community was constructed in 2018 and includes a combination of one- and two-bedroom floor plans alongside 106 townhomes. The market where this property is situated is South Amboy.
Summary of transaction details:
- Property Type: Luxury Apartment Community
- Transaction Amount: $43,400,000
- Square Footage: 0
- Seller's Representative: Joseph Brecher - Gebroe-Hammer Associates
- Seller's Representative: Greg Pine - Gebroe-Hammer Associates
- Buyer: Unknown
- Seller: Unknown
The transaction was facilitated by Joseph Brecher, Greg Pine, and Stephen Tragash, all from Gebroe-Hammer Associates, who represented the undisclosed seller. Additionally, the team procured the buyer, identified as a private investor.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,314,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$154,191.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$205,738.14
Annual Debt Service$2,468,857.70
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