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211 Summer Ave, Newark, NJ,...

Newark Property Sold For $2.6 Million With Seller's Reps Manveer Sanghera And John Veniero
SOLDMultiFamily

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

Manveer Sanghera

Veerman Asset Management

Broker

$247.2M

vol

15 deals

Broker

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