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80-84 Ferry St Newark, NJ 0...

Updated Sep 11, 2026

SOLDRetail

Sinai Equity Group Acquires Retail Property In Newark For $40M

80-84 Ferry St Newark, NJ 07105, USA

$40,000,000

Building Size

—

Asset Type

Retail

Closing

Jun 8, 2023

About this deal

AI

A development group has purchased Newark's Iberia Tavern & Restaurant site and surrounding lots for approximately $40 million. The property is located at 80-84 Ferry St in the Ironbound district. The project aims to build over 2,000 residential units and a bustling restaurant row, creating a vibrant streetscape evoking the cultural ambiance of Brazil or Portugal. This will enhance the city's central business district.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $40,000,000 (Approx.)
  • Address: 80-84 Ferry St, Newark
  • Market: Newark
  • Buyer: Sinai Equity Group
  • Seller: Loureiro and Fernandes Families
  • Broker: Gil Medina - CBRE
  • Legal Counsel: Frank Giantomasi - Chiesa Shahinian & Giantomasi PC

The buyer, Sinai Equity Group, acquired the property from the seller, Loureiro and Fernandes Families. Representing the buyer in the deal was Gil Medina from CBRE. Providing legal counsel for the transaction was Frank Giantomasi from Chiesa Shahinian & Giantomasi PC.

On the Map

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$40,000,000

Retail

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Players

Gualberto Medina

CBRE

Broker

$40M

vol

1 deal

Broker
SG
Sinai Equity GroupBuyer

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

0.40%

Cash-on-Cash

-0.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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