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
$43,400,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 20, 2023
AI
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.
Players
South Amboy 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
0.37%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93