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100 Celecki Dr, South Amboy...

Unknown Acquires Property At 100 Celecki Dr South Amboy For $43.4 Million With Seller's Reps Joseph Brecher And Greg Pine
SOLDMultiFamily

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:

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

Joseph Brecher

Gebroe-Hammer Associates

Broker

$470.5M

vol

8 deals

Broker

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