Updated Dec 21, 2023
Fahri Ozturk, Richard Gatto & Jed Matricaria Sell Multifamily Property In Newark, NJ For $1.7M
150 Broad Street, Newark, NJ, USA
$1,735,000
$284/SF
Building Size
6,098 SF
Asset Type
MultiFamily
Closing
Jun 24, 2020
About this deal
AI
The multifamily property located at 150-152 Broad Street in Newark, NJ has been sold for a total price of $1,735,000. The sale took place on June 24, 2021. The property consists of 12 units, resulting in a price per unit of $144,583. The asset is situated in the Newark market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,735,000
- Address: 150-152 Broad Street, Newark, NJ
- Date: June 24, 2021
- Units: 12
- Price per Unit: $144,583
- Market: Newark, NJ
The sale of this multifamily property at 150-152 Broad Street was facilitated by brokers Fahri Ozturk, Richard Gatto, and Jed Matricaria. They represented the buyer and seller in the transaction, showcasing their expertise in the Newark market.
Players
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
9.14%
Cash-on-Cash
-2.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93