Albert Nigil Acquires Apartment Building On Broad St In Newark, NJ For $12.4M
SOLD
$12,400,000
New Jersey
See Similar DealsMultiFamily
Sold 02/25/2022
SOLD
Albert Nigil Acquires Apartment Building On Broad St In Newark, NJ For $12.4M
812 Broad Street / Kenneth a. Gibson Blvd, Newark, New Jersey 07102, United States
See Similar DealsMultiFamily
Sold 02/25/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
The apartment property located at 810-812 Broad St in Newark, NJ was recently sold in a closed transaction. The sale took place on February 25, 2022.
Summary of Transaction Details
- Property Type: Apartment
- Transaction Amount: $12,400,000
- Address: 810-812 Broad St, Newark, NJ
- Market: Newark, NJ
The buyer of the apartment property is Albert Nigil, while the seller is Hanini Thafer.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$661,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$44,054.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$58,782.33
Annual Debt Service$705,387.91
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