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182 Ferry Street, Staten Is...

Seagate Asset Management Acquires Mixed-use Property In Newark, NJ For $1.9M
SOLDMixed-use

Seagate Asset Management Acquires Mixed-use Property In Newark, NJ For $1.9M

182 Ferry Street, Staten Island, NY 10302, USA

$1,900,000

$817/SF

Building Size

2,324 SF

Asset Type

Mixed-use

Closing

Oct 5, 2021

AI

Located at 182 Ferry Street in Newark, NJ, a mixed-use property was recently sold for $1,900,000. The property spans 2,324 square feet, resulting in a price per square foot of $817. The transaction took place on October 5, 2021.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $1,900,000
  • Address: 182 Ferry Street, Newark, NJ
  • Market: Newark, NJ

The buyer, Seagate Asset Management, represented by Jason Hoffman, is actively seeking mixed-use properties in high-traffic shopping districts of NYC, The Boroughs, and Northern NJ. Interested parties can reach out to Jason Hoffman at [email protected].

Players

Jason Hoffman

Seagate Asset Management

Buyer

$19.3M

vol

8 deals

Buyer

Sunny Uberoi

Seller

$13.3M

vol

3 deals

Seller

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.35%

Cash-on-Cash

-2.39%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93