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Goldcrest Properties Acquires Multifamily Property In Jackson, NJ For $8.35M

Property Image
SOLD
$8,350,000

New Jersey

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MultiFamily35,000 SF
Sold 01/05/2022
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SOLD

Goldcrest Properties Acquires Multifamily Property In Jackson, NJ For $8.35M

88 West Veterans Highway, Jackson, NJ 08527

See Similar Deals
MultiFamily35,000 SF
Sold 01/05/2022
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Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$238
Total Square Footage:35,000 SF
Transaction Type:Sale

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

2 deals$20.3M volume
BROKER

Hillel Hertz
6 deals$218.9M volume
BUYER

Details

SOLD
IMAGE: Ben Cooper DATE: 01/05/2022 ADDRESS: 80-88 West Veterans Highway MARKET: Jackson, NJ ASSET TYPE: Multifamily BUYER: Hillel Hertz - Goldcrest Properties SELLER: Monjoy Limited Partnership BROKER: Ben Cooper (@BenCooper) - Capital Realty SALE PRICE: $8,350,000 UNITS: 44 ~ PPU: $189,773 SF: 35,000 ~ PPSF: $239

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Operating Income
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$29,665.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,583.26
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