Skylight Real Estate Partners Acquires Property From Ares Commercial Real Estate For $116.5M In Fort Lee
SOLD
$116,500,000
New Jersey
See Similar DealsMultiFamily
Sold 10/18/2022
SOLD
Skylight Real Estate Partners Acquires Property From Ares Commercial Real Estate For $116.5M In Fort Lee
2030 Hudson St, Fort Lee, NJ, 07024
See Similar DealsMultiFamily
Sold 10/18/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
The property asset involved in the transaction is located at 2030 Hudson St, Fort Lee, NJ, 07024. The transaction was completed for a price of $116,500,000.00. The market value is established in the Fort Lee area. The property features a total square footage of 0.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $116,500,000.00
- Address: 2030 Hudson St, Fort Lee, NJ, 07024
- Market: Fort Lee
- Seller: Ares Commercial Real Estate
- Buyer: Skylight Real Estate Partners
- Seller's Representative: Eric Apfel - CBRE
- Broker: Jeffrey Dunne - CBRE
The deal involved key individuals and companies, with Eric Apfel representing the seller, Ares Commercial Real Estate, and Jeffrey Dunne serving as the broker in the transaction. Skylight Real Estate Partners acted as the buyer in this sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$413,899.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$552,269.44
Annual Debt Service$6,627,233.23
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