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90-92 Davenport Avenue

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
SOLDMultiFamily

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:

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

Joseph Spinella

Keller Williams Realty

Broker

$55.7M

vol

24 deals

Broker

Newark MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

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