Berkadia Brokers Sale Of Elizabeth Multifamily Property For $3 Million With 23 Units
SOLD
$3,000,000
New Jersey
See Similar DealsMultiFamily20,000 SF
Sold 01/15/2025
SOLD
Berkadia Brokers Sale Of Elizabeth Multifamily Property For $3 Million With 23 Units
MultiFamily20,000 SF
Sold 01/15/2025
Summary
Asset Type:MultiFamily
Price Per Square Foot:$150
Total Square Footage:20,000 SF
Transaction Type:Sale
The asset involved in the transaction is a multifamily property located in Elizabeth, featuring 23 units across 20,000 square feet. The sale price of the property was $3,000,000, with a price per square foot calculated at $150.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,000,000
- Square Footage: 20,000
- Price per Square Foot: $150
- Units: 23
The transaction was facilitated by brokers Nat Gambuzza, Trevor Fiebel, and Nick Balancia, representing Berkadia in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$160,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37
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