Updated Dec 20, 2023
The Kislak Company Brokers Julie Gralla & Joni Sweetwood Close $17.5M Multifamily Sale In Plainfield, NJ
643-715 East Front Street
$17,500,000
Units
70
Asset Type
MultiFamily
Closing
Nov 5, 2021
About this deal
AI
The multifamily property located at 643-715 E Front Street in Plainfield, NJ has been sold. The transaction was facilitated by brokers Julie Gralla and Joni Sweetwood from The Kislak Company. The property consists of 70 units and was sold for a total price of $17,500,000. This sale represents a record-setting price of $250,000 per unit for pre-millennium construction in Plainfield.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $17,500,000
- Units: 70
- Price Per Unit: $250,000
This successful transaction demonstrates the strong market demand for multifamily properties in Plainfield, NJ. The involvement of Julie Gralla and Joni Sweetwood from The Kislak Company showcases their expertise in navigating complex real estate deals and securing favorable outcomes for their clients.
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