Andrew F. Crockett Acquires Multifamily Property From Mark Melizanis In Guttenberg For $3M
SOLD
$3,000,000
New Jersey
See Similar DealsMultiFamily7,050 SF
Sold 11/12/2025
SOLD
Andrew F. Crockett Acquires Multifamily Property From Mark Melizanis In Guttenberg For $3M
222 224 70th Street
See Similar DealsMultiFamily7,050 SF
Sold 11/12/2025
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$425
Total Square Footage:7,050 SF
Transaction Type:Sale
The transaction involved a multifamily property located at 222-224 70th Street in Guttenberg. The asset comprises 10 residential units and was sold for $3,000,000, resulting in a price per unit of $300,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,000,000
- Units: 10
- Price Per Unit: $300,000
- Buyer: Andrew F. Crockett
- Broker: David Ferber - Matthews
- Sale Date: 11/12/2025
- Address: 222-224 70th Street
- Market: Guttenberg
Andrew F. Crockett was the buyer in this transaction. David Ferber from Matthews acted as the broker representing this sale, facilitating the deal between the involved parties.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$160,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37
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