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1251 Milton Pl, Plainfield,...

Updated Oct 29, 2024

Milton Terrace Holdings Sells Property At 1251 Milton Pl Plainfield With Joni Sweetwood And Julie Gralla As Brokers
SOLDMultiFamily

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

Joni Sweetwood

Kislak

Broker

$420.4M

vol

31 deals

Broker

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

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