Conor Tully Acquires Retail Property In Vernon From Matt Frasco For $1.85M
46 New Jersey Highway 94
$1,850,000
$131/SF
Building Size
14,080 SF
Asset Type
Retail
Closing
Jan 7, 2026
AI
The property asset involved in the transaction is located at 46 New Jersey Highway 94 in Vernon, and it is classified as a retail asset. The sale price of the property was $1,850,000, covering a total area of 14,080 square feet, which equates to a price per square foot of $131.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,850,000
- Address: 46 New Jersey Highway 94
- Market: Vernon
- Square Footage: 14,080
- Price per Square Foot: $131
- Buyer: Conor Tully
- Seller: Matt Frasco
- Brokers: CJ Huter, Marc Palestina & Lew Finkelstein - VanRockCRE
The key individuals involved in this transaction include the buyer, Conor Tully, and the seller, Matt Frasco. The brokerage team representing both sides consists of CJ Huter, Marc Palestina, and Lew Finkelstein from VanRockCRE, facilitating the sale and ensuring the transaction was successfully completed.
Players
Vernon 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
8.57%
Cash-on-Cash
-2.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93