Goldcrest Properties Acquires Marietta Multifamily For $39M With Michelle Jungreis & Aaron Jungreis As Brokers
421 W Market St, Marietta, PA, USA
$39,000,000
$222/SF
Building Size
175,000 SF
Asset Type
MultiFamily
Closing
Dec 8, 2020
AI
Located at 421 W. Market St. in Marietta, PA, a multifamily property has been sold in a recent transaction. The property spans a total area of 175,000 square feet and consists of 172 units. The sale price for this transaction was $39,000,000, resulting in a price per square foot of $223 and a price per unit of $226,744. The buyer for this property is Goldcrest Properties, represented by Hillel Hertz. The seller, Inch & Co., was represented by Jeff Inch. The brokers involved in this deal were Michelle Jungreis and Aaron Jungreis, both from Rosewood Realty Group.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $39,000,000
- Address: 421 W. Market St., Marietta, PA
- Market: Marietta, PA
- Buyer: Goldcrest Properties - Hillel Hertz
- Seller: Inch & Co. - Jeff Inch
- Brokers: Michelle Jungreis & Aaron Jungreis - Rosewood Realty Group
- Square Footage: 175,000
- Price per Square Foot: $223
- Number of Units: 172
- Price per Unit: $226,744
The successful transaction was facilitated by Goldcrest Properties, led by Hillel Hertz, who acquired the multifamily property at 421 W. Market St. in Marietta, PA. On the other side of the deal, Inch & Co., represented by Jeff Inch, acted as the seller. The negotiation and coordination of this transaction were handled by Michelle Jungreis and Aaron Jungreis from Rosewood Realty Group. This sale marks a significant milestone in this bustling market.
Players
Marietta MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93