Daniel Spiegel & Yehuda Kotkes Acquire Retail Property In Newark For $2M
315 Bloomfield Ave Newark, NJ 07107, USA
$2,000,000
$100/SF
Building Size
20,000 SF
Asset Type
Retail
Closing
Jul 7, 2023
AI
A retail property located at 315 Bloomfield Avenue in Newark has been sold for $2,000,000. The property spans 20,000 square feet, resulting in a price per square foot of $100.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,000,000
- Address: 315 Bloomfield Avenue, Newark
- Market: Newark
The buyers of this retail property are Daniel Spiegel and Yehuda Kotkes, representing the KS Group. The sale was facilitated by Ryan Cerqueira of The Quinas Companies.
Players
New Jersey Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93