Goldcrest Properties Acquires Multifamily Property In Jackson, NJ For $8.35M
88 West Veterans Highway, Jackson, NJ 08527
$8,350,000
$238/SF
Building Size
35,000 SF
Asset Type
MultiFamily
Closing
Jan 5, 2022
AI
A multifamily property located at 80-88 West Veterans Highway in Jackson, NJ has been sold for a price of $8,350,000. The property, consisting of 44 units, offers an average price per unit of $189,773. With a total area of 35,000 square feet, the price per square foot is approximately $239. The sale took place on January 5, 2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,350,000
- Units: 44
- Price per Unit: $189,773
- Total Square Feet: 35,000
- Price per Square Foot: $239
- Buyer: Hillel Hertz - Goldcrest Properties
- Seller: Monjoy Limited Partnership
- Broker: Ben Cooper - Capital Realty
The buyer of the property is Hillel Hertz from Goldcrest Properties, while the seller is Monjoy Limited Partnership. The deal was facilitated by Ben Cooper from Capital Realty, who represented the parties involved. This transaction signifies an important milestone for the individuals and companies involved, further expanding their real estate portfolios and investment opportunities.
Players
Jackson 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
1.90%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93