Updated Oct 29, 2024
Sela Realty Investments Acquires Property In West Orange For $40.5 Million With Greg Pine As Seller's Rep
200 Mt Pleasant Ave, West Orange, NJ 07052, USA
$40,500,000
Units
178
Asset Type
MultiFamily
Closing
Nov 20, 2023
About this deal
AI
The property asset involved in this transaction is Crest Ridge Apartments, consisting of 178 units in a garden-style apartment community located at 200 Mt Pleasant Ave, West Orange, NJ. The property was sold for $40,500,000.00 and has a square footage of 0.
Summary of transation details:
- Property Type: Apartment Community
- Transaction Amount: $40,500,000.00
- Address: 200 Mt Pleasant Ave, West Orange, NJ
- Market: West Orange
- Seller's Representative: Greg Pine-Gebroe-Hammer Associates
- Buyer: Sela Realty Investments
Greg Pine and Adam Zweibel of Gebroe-Hammer Associates represented the seller, who was the original developer and owner of the property, and they also procured the buyer in this transaction.
On the Map
$40,500,000
MultiFamily
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West Orange 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
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93