Kislak Company Brokers Sell Newton Multifamily Portfolio For $22.45M
4-20 Swartswood Road
$22,450,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 18, 2022
AI
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
Newton MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93