Updated Sep 5, 2024
Kislak Company Brokers Sell Newton Multifamily Portfolio For $22.45M
4-20 Swartswood Road
$22,450,000
Units
115
Asset Type
MultiFamily
Closing
Aug 18, 2022
About this deal
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.
On the Map
$22,450,000
MultiFamily
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Newton 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
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93