facebook
Traded Co logo
Submit

Kislak Company Brokers Sell Newton Multifamily Portfolio For $22.45M

Property Image
SOLD
$22,450,000
Joseph Keenan
Justin Lupo

New Jersey

See Similar Deals
MultiFamily
Sold 08/18/2022
the dealplayerscompscontact
Property Image
SOLD

Kislak Company Brokers Sell Newton Multifamily Portfolio For $22.45M

4-20 Swartswood Road

See Similar Deals
MultiFamily
Sold 08/18/2022
Joseph Keenan
Justin Lupo
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale

The recent sale of a three-property multifamily portfolio in Newton, Sussex County, New Jersey has been completed. The portfolio consists of Swartswood Gardens, which is located at 4-20 Swartswood Road and offers 32 units, Stonewood Apartments at 31 Paterson Avenue with 32 units, and Mill Street Manor at 4 Mill Street and 10-16 Hillside Terrace, comprising of 51 units. The total sale price for this portfolio was $22,450,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Sale Price: $22,450,000
  • Units: 115
  • Price per Unit: $195,217

The sale of this multifamily portfolio was facilitated by Joseph Keenan and Justin Lupo from Kislak Company, who acted as the brokers in this transaction.

Players

Justin Lupo
Kislak
Justin Lupo
10 deals$194.2M volume
BROKER
Joseph Keenan
Kislak
Joseph Keenan
7 deals$86.9M volume
BROKER

Details

SOLD
IMAGE: Joseph Keenan & Justin Lupo DATE: 08/18/2022 ADDRESS: 4-20 Swartswood Road, 31 Paterson Avenue, 4 Mill Street & 10-16 Hillside Terrace MARKET: Newton, NJ ASSET TYPE: Multifamily BROKERS: Joseph Keenan (@JKeenanRE) & Justin Lupo (@Justin_Lupo)- Kislak Company (@KislakCompany) SALE PRICE: $22,450,000 UNITS: 115 ~ PPU: $195,217 NOTE FROM BROKERS: This is a recent sale of a three-property multifamily portfolio in Newton, Sussex County, New Jersey for $22,450,000. The portfolio includes Swartswood Gardens with 32 units at 4-20 Swartswood Road, Stonewood Apartments with 32 units at 31 Paterson Avenue and Mill Street Manor with 51 units at 4 Mill Street and 10-16 Hillside Terrace.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,197,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$79,760.11
Cash-on-Cash Return-1.27%
Monthly Debt Service$106,424.45
Annual Debt Service$1,277,093.44