facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New Jersey

/

Multifamily

/

Sale

/

500 N Walnut St, East Orang...

Updated Oct 29, 2024

Community Preservation Partners & L&M Development Partners Acquire Multifamily Property In East Orange For $94M
SOLDMultiFamily

Community Preservation Partners & L&M Development Partners Acquire Multifamily Property In East Orange For $94M

500 N Walnut St, East Orange, NJ 07017, USA

$94,000,000

$411/SF

Building Size

228,736 SF

Asset Type

MultiFamily

Closing

Nov 17, 2020

About this deal

AI

500 N. Walnut Street, a multifamily property located in East Orange, was recently sold in a closed transaction. The property, consisting of 405 units, was purchased by Community Preservation Partners and L+M Development Partners from Squiretown Properties LLC. The sale was facilitated by Jessie Elsanhuty of Colliers International. The transaction was completed on November 18, 2020, with a purchase price of $94,000,000, resulting in a per unit price of $232,099.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $94,000,000
  • Units: 405
  • Price per Unit (PPU): $232,099

The buyer, Community Preservation Partners and L+M Development Partners, acquired the property, while the seller was Squiretown Properties LLC. Providing representation for the transaction, Jessie Elsanhuty of Colliers International acted as the broker.

Players

Jessie Elsanhuty

Colliers

Broker

$94M

vol

1 deal

Broker
L+M Development Partners
L+M Development PartnersBuyer

East Orange MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Deal FAQ

About $411 per square foot on a published $94M for 228,736 square feet (2020).

Visit Colliers to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.17%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

More Deals

Nearby Markets