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251 Atlantic Street, Keypor...

Keyport Village Apartments DE, LLC Sells 132-Unit Multifamily Property In Keyport For $29M
SOLDMultiFamily

Keyport Village Apartments DE, LLC Sells 132-Unit Multifamily Property In Keyport For $29M

251 Atlantic Street, Keyport, New Jersey 07735, United States

$29,000,000

Building Size

Asset Type

MultiFamily

Closing

Jun 5, 2022

AI

Keyport Village Apartments DE, LLC has sold a multifamily property located at 251 Atlantic Street in Keyport. The property consists of 132 units and was sold for a total of $29,000,000, resulting in a per unit price of approximately $219,697. The transaction took place on June 6, 2022.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $29,000,000
  • Number of Units: 132
  • Price per Unit: $219,697

The sale of 251 Atlantic Street in Keyport was facilitated by Joni Sweetwood, Robert Holland, and Barry Waisbrod from The Kislak Company. They represented the seller, Keyport Village Apartments DE, LLC.

Players

Barry Waisbrod

Kislak

Broker

$176.6M

vol

10 deals

Broker

Keyport 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

0.55%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93