Updated Oct 13, 2024
Newark Property Sold For $2.6 Million With Seller's Reps Manveer Sanghera And John Veniero
211 Summer Ave, Newark, NJ, 07104
$2,600,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 20, 2023
About this deal
AI
The property involved in the transaction is located at 211 Summer Ave, Newark, NJ, 07104. The transaction was completed for a price of $2,600,000. The property has a market presence in Newark and encompasses a total square footage of 0.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $2,600,000.00
- Seller's Representative: Manveer "Manny" Sanghera, John Veniero-CBRE
- Buyer: Unknown
- Seller: Unknown
- Market: Newark
The deal's representatives included CBRE team members, specifically Manveer Sanghera and John Veniero, who managed the seller representation. This transaction is part of a series where CBRE facilitated the sale of multiple properties, contributing to a total of $107,895,000 in Essex County sales for the summer.
On the Map
$2,600,000
MultiFamily
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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
6.10%
Cash-on-Cash
-1.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93