Golden Sky Equities LLC Acquires Westville NJ Multifamily For $1.56M

Golden Sky Equities LLC, represented by Isaac Sebbag and Amanda Sokol, has closed on a multifamily property located at 1170 Delsea Dr in Westville, NJ. The property consists of 21 office units on the first floor and 18 residential units on the second floor. The sale price for this transaction was $1,560,000, with a price per unit (PPU) of $40,000. The building spans approximately 23,900 square feet, resulting in a price per square foot (PPSF) of $65.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,560,000
• Units: 39
• Price Per Unit: $40,000
• Square Footage: 23,900
• Price Per Square Foot: $65
• Address: 1170 Delsea Dr
• Market: Westville, NJ

The seller in this transaction was Glatis Fam. Jonathan Hasten from Brook Hollow Capital represented the buyer, while Isaac Sebbag and Amanda Sokol represented Golden Sky Equities LLC. The buyer's note explains that they plan to fully upgrade the exterior façade and update common areas, with the primary goal of converting the office units into residential units. The property was purchased with a 5.125% fixed construction loan, and at close to full occupancy, the going-in cap rate was over 10%.