facebook
Traded Co logo
Submit

Prime Equities Acquires Retail Asset In Pompton Plains For $5.15 Million From Doug Marchesin & George Sikora

Property Image
SOLD
$5,150,000

New Jersey

See Similar Deals
Retail30,000 SF
Sold 11/08/2024
the dealplayerscompscontact
Property Image
SOLD

Prime Equities Acquires Retail Asset In Pompton Plains For $5.15 Million From Doug Marchesin & George Sikora

Rt 23 South

See Similar Deals
Retail30,000 SF
Sold 11/08/2024
Contact now

Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$171
Total Square Footage:30,000 SF
Transaction Type:Sale

The property involved in this transaction is a retail asset located at 679-717 Rt 23 South in Pompton Plains. The sale price was recorded at $5,150,000, with the property encompassing 30,000 square feet, resulting in a price per square foot of $171.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $5,150,000
  • Address: 679-717 Rt 23 South
  • Market: Pompton Plains
  • Square Footage: 30,000
  • Price Per Square Foot: $171
  • Buyer: Prime Equities
  • Seller: Doug Marchesin & George Sikora
  • Brokers: Lew Finkelstein, CJ Huter & Marc Palestina - The Goldstein Group

This transaction highlights the roles of the key individuals involved, with Lew Finkelstein, CJ Huter, and Marc Palestina representing The Goldstein Group in facilitating the sale between Prime Equities as the buyer and Doug Marchesin & George Sikora as the sellers.

Players

CJ Huter
25 deals$119.7M volume(201) 888-8129
BROKER

Lew Finkelstein
31 deals$125.9M volume(201) 704-2743
BROKER

Marc Palestina
27 deals$117.5M volume(201) 799-9665
BROKER

Details

SOLD
IMAGE: Lew Finkelstein, CJ Huter & Marc Palestina DATE: 11/08/2024 ADDRESS: 679-717 Rt 23 South MARKET: Pompton Plains ASSET TYPE: Retail BUYER: Prime Equities SELLER: Doug Marchesin & George Sikora BROKERS: Lew Finkelstein (@LewFinkelstein), CJ Huter (@CjHuter) & Marc Palestina (@Marc_Pal) - The Goldstein Group SALE PRICE: $5,150,000 SF: 30,000 ~ PPSF: $171

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$274,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$18,296.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,413.63
Annual Debt Service$292,963.53