Updated Dec 21, 2023
The Kislak Company Facilitates $17.5M Sale Of Multifamily Property In Plainfield, NJ
643-715 East Front Street
$17,500,000
Units
70
Asset Type
MultiFamily
Closing
Jan 25, 2022
About this deal
AI
The recently closed transaction in Plainfield involved a multifamily property located at 643-715 East Front St. This property, comprising of 70 units, was sold for a total price of $17,500,000, resulting in an average price per unit of $250,000. The sale took place on January 25, 2022, and was facilitated by brokers Julia Gralla and Joni Sweetwood from The Kislak Company.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $17,500,000
- Address: 643-715 East Front St
- Units: 70
- Price Per Unit (PPU): $250,000
Joni Sweetwood, along with Julia Gralla, represented the buyers and sellers in this successful transaction. Their expertise and collaboration through The Kislak Company played a significant role in the completion of this deal.
Players
Plainfield 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
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93