Updated Oct 29, 2024
Golden Sky Equities Acquires 53-Unit Multifamily Portfolio In Middlesex County For $9.72M
7 11 Byron St Carteret, Nj 07008, Usa
$9,720,000
Units
53
Asset Type
MultiFamily
Closing
Jul 13, 2023
About this deal
AI
An off-market sale of a three-property multifamily portfolio in Middlesex County, comprising 7-11 Byron Street, 154-172 MacArthur Avenue, and 355 Plainfield Avenue, has been arranged by Gebroe-Hammer Associates for a total transaction amount of $9.72 million. The portfolio consists of 53 units, with an average per unit price of $183,396. Golden Sky Equities is the buyer in this transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,720,000
- Units: 53
- Price Per Unit: $183,396
The buyer, Golden Sky Equities, has acquired this multifamily portfolio in Middlesex County. The off-market sale was facilitated by Gebroe-Hammer Associates, with the transaction brokered by Joseph Brecher and Joseph Gehler. This deal showcases the expertise and professionalism of the brokers in successfully connecting buyers and sellers in the real estate market.
On the Map
$9,720,000
MultiFamily
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Players
New Jersey 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
1.63%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93