Updated Oct 29, 2024
FCA Acquires Property In Cranford New Jersey For $3.4 Million With Seller's Rep Gehane Triarsi
2 McKinley St, Cranford, NJ, 07016
$3,400,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 20, 2023
About this deal
AI
The Hamlet at Cranford is a multifamily community located at 2-20 McKinley St, Cranford, NJ, within the Linden market. This property was sold for $3,400,000. The asset comprises 10 two-bedroom, two-and-a-half bath townhome-style units equipped with hardwood and tile flooring, central air conditioning, granite countertops, stainless steel appliances, vaulted ceilings, and in-unit washers and dryers.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,400,000.00
- Seller's Representative: Gehane Triarsi-Gebroe-Hammer Associates
- Buyer: FCA
- Address: 2 McKinley St, Cranford, NJ, 07016
- Market: Linden
Adam Zweibel and Gehane Triarsi represented the seller in this transaction, facilitating the arrangement and successfully procuring the buyer. The involvement of Gebroe-Hammer Associates highlights their role in connecting the two parties in this property deal.
Players
Linden MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.67%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93