Updated Sep 5, 2024
Gersh Group Acquires Multifamily Property In Newark For $720,000
131-133 Huntington Terrace, Newark, NJ, USA
$720,000
$167/SF
Building Size
4,308 SF
Asset Type
MultiFamily
Closing
Aug 31, 2021
About this deal
AI
The multifamily property located at 131-133 Huntington Ter in Newark, NJ has been sold. The sale was facilitated by Gershon Adjaye of Gersh Group, who represented the seller in the transaction. The property was listed with an asking price of $749,000 and ultimately sold for $720,000. It spans a total of 4,308 square feet, resulting in a price per square foot of $167.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $720,000
- Address: 131-133 Huntington Ter, Newark, NJ
- Market: Newark, NJ
The deal was successfully closed on the specified date of 08/31/2021. This transaction highlights the involvement of Gershon Adjaye from Gersh Group, who served as the seller's representative. The final sale price of $720,000 reflects the value of the property, which offers a total of 4,308 square feet to potential buyers.
Newark 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
22.03%
Cash-on-Cash
-6.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93