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1300 Fulton Street, Rahway,...

Jonathan Zarka Acquires Multifamily Property In Rahway For $875K
SOLDMultiFamily

Jonathan Zarka Acquires Multifamily Property In Rahway For $875K

1300 Fulton Street, Rahway, NJ 07065

$875,000

$225/SF

Building Size

3,888 SF

Asset Type

MultiFamily

Closing

Nov 22, 2021

AI

The multifamily property located at 1300 Fulton Street in Rahway has been sold. The sale, which took place on November 22, 2021, was facilitated by Jonathan Zarka from Jonathan Zarka Realty. The property was purchased by Jonathan Zarka for a total price of $875,000. The transaction involved 8 units, resulting in a per unit price of $109,375. The total square footage of the property is 3,888, with a price per square foot of $225. The seller of the property was 1300 Fulton Street Associates.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $875,000
  • Address: 1300 Fulton Street, Rahway
  • Market: Rahway
  • Buyer: Jonathan Zarka
  • Seller: 1300 Fulton Street Associates
  • Units: 8
  • Price per Unit: $109,375
  • Square Footage: 3,888
  • Price per Square Foot: $225

Note: LightRock Management, represented by Jonathan Zarka, is actively looking to acquire multifamily assets in NJ and CT within the price range of $500k to $30m. For any properties available for sale, please contact Jonathan at [email protected].

Players

Jonathan Zarka

Lightrock Management

Buyer

$8.9M

vol

7 deals

Buyer

Rahway 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

18.13%

Cash-on-Cash

-5.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93