Updated Feb 5, 2025
AvalonBay Sells Multifamily Property In Lawrenceville, NJ For $208M
1000 Town Ct S, Lawrence Township, NJ, USA
$208,000,000
$294/SF
Building Size
707,567 SF
Asset Type
MultiFamily
Closing
Nov 16, 2021
About this deal
AI
An apartment complex located at 1000 Town Ct S in Lawrenceville, NJ has been sold for a total of $208,000,000. The property, categorized as a multifamily asset, consists of 632 units with an average price per unit of $329,114. The total square footage of the complex is 707,567, resulting in an average price per square foot of $294. It is worth noting that the seller of the property was AvalonBay.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $208,000,000
- Units: 632
- Price per Unit: $329,114
- Square Footage: 707,567
- Price per Square Foot: $294
- Seller: AvalonBay
The sale of this apartment complex was facilitated by the brokers Jose Cruz, Michael Oliver, Steve Simonelli, Kevin O'Hearn, and Josh Stein from JLL. Their expertise and negotiation skills played a crucial role in the successful transaction.
Players
Lawrence Township MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Michael Oliver to view all their deals.
Browse New Jersey multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93