Updated Dec 21, 2023
Kislak Realty Sells 60-unit Multifamily In East Orange, NJ For $6.8M
37 Long Street, Piscataway, NJ 08854, USA
$6,800,000
Units
60
Asset Type
MultiFamily
Closing
Oct 29, 2021
About this deal
AI
Located in East Orange, NJ, the multifamily property at 37-69 Long Street has recently been sold. The transaction took place on October 29, 2021, with a sale price of $6,800,000. This property consists of 60 units, resulting in a per unit price of $113,333. Joni Sweetwood from Kislak Realty served as the broker for this sale.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,800,000
- Address: 37-69 Long Street
- Market: East Orange, NJ
- Units: 60
- Price per Unit: $113,333
This sale represents an affordable housing opportunity in East Orange, NJ. The sale of the property at 37-69 Long Street showcases the demand for this type of housing in the market.
Players
Piscataway 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
2.33%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93