Updated Oct 29, 2024
HarborPoint Residential Acquires Multifamily Property For $4M In Lawrence Township
250 Main Street
$7,000,779
$7,000,779/SF
Building Size
1 SF
Asset Type
MultiFamily
Closing
Jan 31, 2023
About this deal
AI
HarborPoint Residential has purchased a multifamily property located at 2661 Main Street in Lawrence Township. The transaction took place on January 31, 2023, with a sale price of $4,000,000. The property consists of 11 units, resulting in a per unit price of $363,636.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,000,000
- Address: 2661 Main Street
- Market: Lawrence Township
Greg Albert, representing HarborPoint Residential, acted as the buyer in this transaction. HarborPoint Residential is actively seeking value-add multifamily properties in New Jersey. For any new acquisition opportunities, please contact Greg Albert at [email protected].
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $7M per square foot on a published $7M for 1 square feet (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93