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Kislak Co. Brokers Jeff Squires & Bary Waisbrod Facilitate $11.55M Sale Of Multifamily Property In Elizabeth, NJ

Property Image
SOLD
$11,550,000

New Jersey

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MultiFamily50,000 SF
Sold 12/01/2021
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SOLD

Kislak Co. Brokers Jeff Squires & Bary Waisbrod Facilitate $11.55M Sale Of Multifamily Property In Elizabeth, NJ

1013 North Broad Street, Elizabeth, New Jersey 07208, United States

See Similar Deals
MultiFamily50,000 SF
Sold 12/01/2021
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$231
Total Square Footage:50,000 SF
Transaction Type:Sale

The multifamily property located at 1013 North Broad St. & 1011 E. Jersey St. in Elizabeth, NJ was recently sold. The sale was facilitated by brokers Jeff Squires and Bary Waisbrod from Kislak Co. The property consists of 80 units, with a price per unit (PPU) of $144,375. The total square footage of the property is 50,000, with a price per square foot (PPSF) of $231. The sale price for the property was $11,550,000.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $11,550,000
  • Units: 80
  • Price per Unit (PPU): $144,375
  • Total Square Footage: 50,000
  • Price per Square Foot (PPSF): $231

Jeff Squires and Bary Waisbrod from Kislak Co. played a crucial role in the transaction, representing the involved parties in the deal. The sale of this multifamily property in Elizabeth, NJ showcases the expertise and efforts of these brokers in facilitating successful real estate transactions.

Players

Barry Waisbrod
10 deals$176.6M volume(732) 750-3000
BROKER

Jeff Squires
Kislak
17 deals$280.4M volume
BROKER

Details

SOLD
IMAGE: Jeff Squires DATE: 12/01/2021 ADDRESS: 1013 North Broad St. & 1011 E. Jersey St. MARKET: Elizabeth, NJ ASSET TYPE: Multifamily BROKERS: Jeff Squires & Bary Waisbrod- Kislak Co. SALE PRICE: $11,550,000 UNITS: 80 ~ PPU: $144,375 SF: 50,000 ~ PPSF: $231

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$616,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$41,034.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$54,752.89
Annual Debt Service$657,034.71