Updated Oct 28, 2024
Rowan University Acquires 9.52 Acres School In Glassboro For $3.4M
202 Delsea Drive North, Glassboro, New Jersey 08028, United States
$3,400,000
$42/SF
Building Size
79,891 SF
Asset Type
Other
Closing
Mar 8, 2022
About this deal
AI
The property involved in the transaction is a school located at 202 N Delsea Dr in Glassboro. It spans across 9.52 acres. The sale took place on 03/09/2022 at a price of $3,400,000. The school has a total area of 79,891 square feet, resulting in a price per square foot of $43.
Summary of transaction details
- Property Type: School
- Transaction Amount: $3,400,000
- Date: 03/09/2022
- Address: 202 N Delsea Dr
- Market: Glassboro
- Acres: 9.52
- Buyer: Rowan University - Ali Houshmand
- Seller: Glassboro School District - Mark Silverstein & Peter Calvo
- Total Square Feet: 79,891
- Price per Square Foot: $43
The buyer in this transaction was Rowan University, represented by Ali Houshmand. The seller was Glassboro School District, represented by Mark Silverstein and Peter Calvo.
Players
Glassboro Other Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.67%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93