Updated Oct 29, 2024
Standard Communities Acquires Senior Housing In Atlantic City For $38M
1313 Baltic Ave, Atlantic City, NJ, USA
$38,000,000
$871/SF
Building Size
43,600 SF
Asset Type
Other
Closing
Apr 21, 2021
About this deal
AI
The senior housing property located at 1313 Baltic Ave in Atlantic City has been sold in a recent transaction. The sale was finalized on 04/22/2021.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: $38,000,000
- Number of Units: 169
- Price per Unit: $224,852
The buyer of the property is Standard Communities, represented by Steven Kahn. Standard Communities acquired the senior housing asset at a total cost of $38,000,000. The property consists of 169 units, with a price per unit of $224,852.
Note: No additional information is available regarding the property or the transaction.
Atlantic City Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93