Updated Sep 9, 2024
Pareddy South 5th Acquires Retail Property In East Hanover For $3.8M
33 Ridgedale Avenue
$3,800,000
$253/SF
Building Size
15,000 SF
Asset Type
Retail
Closing
Jul 19, 2022
About this deal
AI
The property involved in this sale transaction is a retail asset located at 33 Ridgedale Ave in East Hanover. The property spans 15,000 square feet and was sold for a price of $3,800,000, resulting in a price per square foot of $253.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $3,800,000
- Address: 33 Ridgedale Ave
- Market: East Hanover
The buyer in this transaction is Pareddy South 5th, while the seller is MVD Spagnolo, Macri & McHugh. The deal was facilitated by Lew Finkelstein and CJ Huter from The Goldstein Group, who served as brokers representing the buyer and seller respectively.
Players
East Hanover 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
4.17%
Cash-on-Cash
-1.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93