Sinai Equity Group Acquires Office Building In Newark For $49.4M
SOLD
$49,400,000
+ 2
New Jersey
See Similar DealsOffice500,000 SF
Sold 08/29/2022
SOLD
Sinai Equity Group Acquires Office Building In Newark For $49.4M
520 Broad Street, Newark, New Jersey 07102, United States
See Similar DealsOffice500,000 SF
Sold 08/29/2022
+ 2
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$98
Total Square Footage:500,000 SF
Transaction Type:Sale
520 Broad St, an office property located in Newark, was recently sold in a transaction worth $49,400,000. The property spans 500,000 square feet, resulting in a price per square foot of $99. The sale took place on August 29, 2022, and the buyer was Sinai Equity Group.
Summary of transation details
- Property Type: Office
- Transaction Amount: $49,400,000
- Address: 520 Broad St, Newark
- Square Footage: 500,000
- Price per Square Foot: $99
In this transaction, Rafael Holdings Inc, represented by Bill Conkling, acted as the seller. The seller's representatives from Cushman and Wakefield were David Bernhaut, Andrew Merin, Frank DiTommaso, and Ryan Larkin.
Players
BUYER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,634,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$175,507.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$234,181.20
Annual Debt Service$2,810,174.43
Is there something missing? Send suggestions