Pacific Urban Residential LLC Acquires South Orange Multifamily For $84.2M
28 West 3rd Street, South Orange, NJ, USA
$84,200,000
$65,678/SF
Building Size
1,282 SF
Asset Type
MultiFamily
Closing
Jan 14, 2021
AI
A multifamily property located at 28 W. 3rd Street in South Orange has been sold in a closed transaction. The property consists of 200 units and was sold for a total price of $84,200,000. The buyer of the property is Pacific Urban Residential LLC.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $84,200,000
- Address: 28 W. 3rd Street
- Market: South Orange
The sale of this property was facilitated by Jeffrey Dunne, Gene Pride, Jeremy Neuer, Steve Bardsley, David Gavin, and Travis Langer of CBRE, who represented Pacific Urban Residential LLC in the deal.
Players
South Orange 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
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93