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SAGE Investment Real Estate Advisors Sells Multifamily Property At 105 Grove Street For $4.2M

Property Image
SOLD
$4,200,000

New Jersey

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MultiFamily
Sold 07/19/2024
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Property Image
SOLD

SAGE Investment Real Estate Advisors Sells Multifamily Property At 105 Grove Street For $4.2M

105 Grove Street

See Similar Deals
MultiFamily
Sold 07/19/2024
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale

The property asset involved in this transaction is a multifamily building located at 105 Grove Street in Elizabeth, New Jersey. The sale price of the asset was $4,200,000, and it consists of 31 units, resulting in a price per unit of approximately $135,484.

Summary of transaction details:

This transaction is part of SAGE Investment Real Estate Advisors' ongoing success in North Jersey, with this being their third multifamily deal in the area. The firm has surpassed $40 million in sales this year and welcomed Eli Herskowitz as a new principal focused on leading their transactions in Central Jersey.

Players

Stephen (Steve) Tragash
SAGE Investment Real Estate Advisors
Stephen Tragash
9 deals$222.8M volume
BROKER

Details

SOLD
IMAGE: Steve Tragash DATE: 07/19/2024 ADDRESS: 105 Grove Street MARKET: Elizabeth ASSET TYPE: Multifamily BROKER: Steve Tragash - SAGE Investment Real Estate Advisors SALE PRICE: $4,200,000 UNITS: 31 ~ PPU: $135,484 NOTE: SAGE Investment Real Estate Advisors completed its third multifamily deal in North Jersey with the $4.2 million sale of 105 Grove St. in Elizabeth, marking its continued strong performance in the region. The firm, which has surpassed $40 million in sales this year, also welcomed Eli Herskowitz as a new principal to lead its Central Jersey transactions.

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

$223,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,921.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,910.14
Annual Debt Service$238,921.71