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Andrew F. Crockett Acquires Multifamily Property From Mark Melizanis In Guttenberg For $3M

Property Image
SOLD
$3,000,000

New Jersey

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MultiFamily7,050 SF
Sold 11/12/2025
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Property Image
SOLD

Andrew F. Crockett Acquires Multifamily Property From Mark Melizanis In Guttenberg For $3M

222 224 70th Street

See Similar Deals
MultiFamily7,050 SF
Sold 11/12/2025
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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.

Players

David Ferber
24 deals$138M volume(201) 218-9156
BROKER

Matthews
BROKERAGE

Details

SOLD
IMAGE: David Ferber DATE: 11/12/2025 ADDRESS: 222-224 70th Street MARKET: Guttenberg ASSET TYPE: Multifamily BUYER: Andrew F. Crockett BROKER: David Ferber - Matthews (@Matthews_CRE) SALE PRICE: $3,000,000 UNITS: 10 ~ PPU: $300,000

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Deal Type
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