Updated Oct 29, 2024
Milton Terrace Holdings Sells Property At 1251 Milton Pl Plainfield With Joni Sweetwood And Julie Gralla As Brokers
1251 Milton Pl, Plainfield, NJ, 07062
Units
20
Asset Type
MultiFamily
Closing
Nov 20, 2023
About this deal
AI
The transaction involved the sale of Milton Terrace, a 20-unit multifamily complex located at 1251 Milton Pl, Plainfield, NJ, 07062. The property consists of two buildings and was constructed in 1970, featuring two-bedroom units. The specific sale price was not disclosed. The market is Plainfield.
Summary of transaction details:
- Property Type: Multifamily complex
- Transaction Amount: Undisclosed
- Address: 1251 Milton Pl, Plainfield, NJ, 07062
- Market: Plainfield
- Buyer: Undisclosed
- Seller: Milton Terrace Holdings
- Buyer's Representative: Joni Sweetwood (Kislak)
- Seller's Representative: Julie Gralla (Kislak)
Julie Gralla from The Kislak Co. Inc. represented the seller, Milton Terrace Holdings, in the transaction. Joni Sweetwood, also with Kislak, represented the undisclosed buyer. The transaction reflects the continued activity in the Northern New Jersey real estate market.
Players
Plainfield 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93