Dover Hills Properties LLC Sells Multifamily Asset In Dover For $15.7M
99-120 1st Street, Dover, NJ, USA
$15,700,000
$273/SF
Building Size
57,386 SF
Asset Type
MultiFamily
Closing
Feb 28, 2021
AI
Debbie Pomerantz & Steve Tragash of Gebroe-Hammer Associates facilitated the sale of a multifamily property located at 99-120 First St. in Dover. The transaction took place on March 1, 2021, and involved Dover Hills Properties LLC as the seller. The property, comprising 100 units, was sold for a total price of $15,700,000, equating to an average price per unit of $157,000.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $15,700,000
- Market: Dover
- Address: 99-120 First St.
This deal was brokered by Debbie Pomerantz & Steve Tragash of Gebroe-Hammer Associates, who represented the seller, Dover Hills Properties LLC.
Players
Dover 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
1.01%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93