Gebroe-Hammer Associates Facilitates $63.5M Multifamily Sale In North Brunswick, NJ With Broker David Jarvis
SOLD
$63,500,000
New Jersey
See Similar DealsMultiFamily
Sold 05/17/2022
SOLD
Gebroe-Hammer Associates Facilitates $63.5M Multifamily Sale In North Brunswick, NJ With Broker David Jarvis
500 Adams Lane, North Brunswick, New Jersey 08902, United States
See Similar DealsMultiFamily
Sold 05/17/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 500 Adams Lane in North Brunswick, NJ has been sold for a total price of $63,500,000. The transaction took place on 05/17/2022 and was facilitated by David Jarvis from Gebroe-Hammer Associates. The property consists of 253 units, with each unit being sold at an average price of $250,988.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $63,500,000
- Address: 500 Adams Lane, North Brunswick, NJ
- Market: North Brunswick, NJ
- Units: 253
- Price Per Unit: $250,988
David Jarvis from Gebroe-Hammer Associates played a crucial role in representing the buyer and seller in this deal. The transaction showcases the strong demand in the North Brunswick, NJ market for multifamily properties.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,386,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$225,602.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$301,022.40
Annual Debt Service$3,612,268.75
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