Updated Dec 5, 2025
Isaac Sebbag's Golden Sky Equities Acquires MultiFamily Portfolio In Middlesex County For $9.7M
355 Plainfield Ave Edison, NJ 08817, USA
$9,720,000
$211/SF
Building Size
46,000 SF
Asset Type
MultiFamily
Closing
May 31, 2023
About this deal
AI
The transaction involves a multi-family asset located at 355 Plainfield Avenue, 7-11 Byron St & 154 Macurther Ave in Middlesex County, which consists of three value-add buildings. The total sale price for this portfolio amounts to $9,720,000, with 56 units available, resulting in a price per unit of $173,571. The total square footage of the properties is 46,000, translating to a price per square foot of $211.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $9,720,000
- Units: 56
- Price Per Unit: $173,571
- Square Footage: 46,000
- Price Per Square Foot: $211
- Buyer: Isaac Sebbag - Golden Sky Equities
- Brokers: Joseph Gehler - Gebroe-Hammer Associates; Jonathan Hasten - Brook Hollow Capital
Golden Sky Equities secured this off-market deal with a strategic focus on purchasing multifamily and mixed-use properties across New Jersey and Pennsylvania, taking advantage of current market conditions. This acquisition reflects their ongoing efforts to enhance their portfolio in the region.
On the Map
$9,720,000
$211/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.63%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93