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750 North Broad Street, Eli...

Landmark Companies Sells Elizabeth Multifamily Property For $21.3M
SOLDMultiFamily

Landmark Companies Sells Elizabeth Multifamily Property For $21.3M

750 North Broad Street, Elizabeth, NJ, USA

$21,300,000

$31,094/SF

Building Size

685 SF

Asset Type

MultiFamily

Closing

Feb 16, 2021

AI

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.

Players

Stephen Tragash

SAGE Investment Real Estate Advisors

Broker

$222.8M

vol

9 deals

Broker

Michael Gottlieb

Landmark Companies

Seller

$61.5M

vol

2 deals

Seller

Elizabeth 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

0.74%

Cash-on-Cash

-0.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93