Mack-Cali Realty Corp. Sells 200-Unit Multifamily Portfolio In New Brunswick For $47M
5 Dennis Street, New Brunswick, NJ, USA
$47,000,000
$1,496/SF
Building Size
31,404 SF
Asset Type
MultiFamily
Closing
Jan 5, 2021
AI
The multifamily property located at 5 Dennis Street, 10 Dennis Street, and 100 Hiram Square in New Brunswick has been sold for a total price of $47,000,000. The sale took place on January 6, 2021. The property consists of 200 units, with an average price per unit (PPU) of $235,000.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $47,000,000
- Market: New Brunswick
- Seller: Mack-Cali Realty Corp. - MaryAnne Gilmartin
- Units: 200
- Price Per Unit: $235,000
MaryAnne Gilmartin, representing Mack-Cali Realty Corp., served as the seller in the transaction.
Players
New Brunswick 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
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93