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
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.
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