Newark Property Sold For $2.6 Million With Seller's Reps Manveer Sanghera And John Veniero
SOLD
$2,600,000
New Jersey
See Similar DealsMultiFamily
SOLD
Newark Property Sold For $2.6 Million With Seller's Reps Manveer Sanghera And John Veniero
211 Summer Ave, Newark, NJ, 07104
See Similar DealsMultiFamily
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$138,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,237.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,325.33
Annual Debt Service$147,903.92
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