90-92 Davenport Avenue, Newark Listed at $1.925M by Joseph Spinella, Aidan Alverson, Trevor Sbarra of KW Commercial, and Henry Eisenstein of EXP Realty
90-92 Davenport Avenue
$1,925,000
$296/SF
Building Size
6,500 SF
Asset Type
MultiFamily
Closing
Dec 3, 2024
AI
The property asset involved in this transaction is a multifamily building located at 90-92 Davenport Avenue in Newark. The sale price for the asset was $1,925,000, encompassing a total of 6,500 square feet, which translates to a price per square foot of approximately $296.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,925,000
- Address: 90-92 Davenport Avenue
- Market: Newark
- Square Footage: 6,500
- Price Per Square Foot: $296
- Seller: James Devore
- Brokers: Joseph Spinella, Aidan Alverson, Trevor Sbarra - KW Commercial; Henry Eisenstein - EXP Realty
The deal involved multiple representatives, with Joseph Spinella, Aidan Alverson, and Trevor Sbarra representing KW Commercial, while Henry Eisenstein represented EXP Realty in the transaction. Joseph Spinella is the Director of Commercial Real Estate at KW and is available for assistance in commercial real estate transactions.
Players
Newark 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
8.24%
Cash-on-Cash
-2.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93