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976 Bergen Street

Glenn Langberg Sells Retail Space At 976 Bergen Street In Newark For $1.35M
SOLDRetail

Glenn Langberg Sells Retail Space At 976 Bergen Street In Newark For $1.35M

976 Bergen Street

$1,350,000

$133/SF

Building Size

10,105 SF

Asset Type

Retail

Closing

Mar 26, 2025

AI

The property asset involved in this transaction is a retail space located at 976 Bergen Street, Newark, NJ. It was sold for a total price of $1,350,000, and the total square footage of the property is 10,105, resulting in a price per square foot of $133.

Summary of transaction details:

The transaction involved brokers Greg Corbin and Chaya Milworn, who represented the seller, Glenn Langberg, facilitating the sale of the retail property. Their agency, Northgate Real Estate Group, was integral to the completion of this deal.

Players

Chaya Milworn

Northgate Real Estate Group

Broker

$515.7M

vol

35 deals

Broker

Newark 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

11.75%

Cash-on-Cash

-3.36%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93