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26-28 Davenport Avenue, New...

Stacy-Ann Tinglin Acquires Multifamily Property In Newark City For $9.2M
SOLDMultiFamily

Stacy-Ann Tinglin Acquires Multifamily Property In Newark City For $9.2M

26-28 Davenport Avenue, Newark, New Jersey 07107, United States

$9,200,000

Building Size

Asset Type

MultiFamily

Closing

May 31, 2022

AI

The property involved in this transaction is a multifamily asset located at 26-28 Davenport Ave in Newark City. The sale took place on 06/01/2022, and the property was sold for a total price of $9,200,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $9,200,000
  • Address: 26-28 Davenport Ave
  • Market: Newark City

Stacy-Ann Tinglin, a representative from RE/MAX First Realty II, assisted the buyer in this transaction. J.C. Gonzalez from BHGRE Elite and Fernando Peralta represented the seller. These individuals played key roles in negotiating and finalizing the deal.

Players

Stacy-Ann Tinglin

Re/Max

Broker

$9.2M

vol

1 deal

Broker

Newark 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

1.72%

Cash-on-Cash

-0.49%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93