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Oxford Realty Group Acquires Property In Highland Park For $30 Million With Seller's Rep Joseph Brecher

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SOLD
$30,000,000

New Jersey

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SOLD

Oxford Realty Group Acquires Property In Highland Park For $30 Million With Seller's Rep Joseph Brecher

321 Crowells Rd, Highland Park, NJ, 0...

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MultiFamily
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Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale

The property involved in the transaction is Donaldson Park Apartments, a 152-unit apartment community located at 321 Crowells Road, Highland Park, NJ. The sale price was $30,000,000.00, and the total square footage is recorded as 0.

Summary of transaction details:

  • Property Type: Apartment Community
  • Transaction Amount: $30,000,000.00
  • Market: Highland Park
  • Buyer: Oxford Realty Group
  • Seller: JGT Managing Partners
  • Seller's Representative: Joseph Brecher - Gebroe-Hammer Associates

Joseph Brecher of Gebroe-Hammer Associates represented the seller, JGT Managing Partners, who originally developed the garden-style community constructed in 1966. The six-building property includes features such as eat-in kitchens, hardwood floors, and sliding-glass-door patios. Additionally, the community is situated near the 90-acre riverfront Middlesex County Park, which offers amenities like a boat ramp, sports fields, and paved trails.

Players

Joseph Brecher
8 deals$470.5M volume
BROKER

Details

SOLD
IMAGE: 321 Crowells Rd, Highland Park, NJ, 0... MARKET: Highland Park SELLER'S REP: Joseph Brecher(Gebroe-Hammer Associates) BUYER: Oxford Realty Group SELLER: PRICE: $30,000,000.00 SF: 0

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,600,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$106,583.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$142,215.31
Annual Debt Service$1,706,583.66