Ari Mitnick Acquires Office Building In East Brunswick For $5.1M
SOLD
$5,100,000
New Jersey
See Similar DealsOffice449,539 SF
Sold 04/22/2021
SOLD
Ari Mitnick Acquires Office Building In East Brunswick For $5.1M
377 Summerhill Rd, East Brunswick, NJ, USA
See Similar DealsOffice449,539 SF
Sold 04/22/2021
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$11
Total Square Footage:449,539 SF
Transaction Type:Sale
The property involved in the transaction is an office located at 377 Summerhill Rd in East Brunswick. The sale took place on April 22, 2021, with a total sale price of $5,100,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $5,100,000
- Address: 377 Summerhill Rd, East Brunswick
- Buyer: Ari Mitnick
- Seller: Nicholas Minoia
- Market: East Brunswick
Ari Mitnick served as the buyer in this transaction, while Nicholas Minoia acted as the seller. The property is an office space situated at 377 Summerhill Rd in East Brunswick, which provides a prime location for business operations in the area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$271,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,119.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,176.60
Annual Debt Service$290,119.22
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