Landmark Companies Sells Elizabeth Multifamily Property For $21.3M
SOLD
$21,300,000
New Jersey
See Similar DealsMultiFamily685 SF
Sold 02/17/2021
SOLD
Landmark Companies Sells Elizabeth Multifamily Property For $21.3M
750 North Broad Street, Elizabeth, NJ, USA
See Similar DealsMultiFamily685 SF
Sold 02/17/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$31,094
Total Square Footage:685 SF
Transaction Type:Sale
The multifamily property located at 750 N Broad St in Elizabeth has been sold for $21,300,000. The transaction took place on February 17, 2021. The property is situated in the market of Elizabeth and is owned by Landmark Companies, represented by Eric Harvitt and Michael Gottlieb. The sale was facilitated by brokers Stephen Tragash and David Jarvis of Gebroe-Hammer Associates.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $21,300,000
- Address: 750 N Broad St
- Market: Elizabeth
- Seller: Landmark Companies - Eric Harvitt & Michael Gottlieb
- Brokers: Stephen Tragash & David Jarvis - Gebroe-Hammer Associates
The sellers, Landmark Companies, were represented by Eric Harvitt and Michael Gottlieb. The transaction was successfully completed with the assistance of brokers Stephen Tragash and David Jarvis from Gebroe-Hammer Associates.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,135,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$75,674.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$100,972.87
Annual Debt Service$1,211,674.40
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