Updated Dec 21, 2023
Dino Tomassetti Jr Acquires Storage Property In Boonton, NJ For $5.6M
300 Myrtle Avenue, Boonton, New Jersey 07005, United States
$5,600,000
$62/SF
Building Size
89,435 SF
Asset Type
—
Closing
Dec 15, 2021
About this deal
AI
The storage facility located at 300 Myrtle Ave in Boonton, NJ has been sold in a recent transaction. The property spans across 89,435 square feet with a price per square foot of $63. The sale took place on 12/15/2021, with a sale price of $5,600,000. The asset was on the market for a listed asking price of $6,500,000.
Summary of transaction details
- Property Type: Storage
- Transaction Amount: $5,600,000
- Address: 300 Myrtle Ave, Boonton, NJ
- Market: Boonton, NJ
The buyer of the property was Dino Tomassetti Jr, while the seller was Edward Malavarca. The transaction was facilitated by brokers Joseph Ash, Isaac Setton, and Bunny Escava from Kassin Sabbagh Realty.
On the Map
$5,600,000
$62/SF
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Property Record
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Players
Boonton CRE Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.83%
Cash-on-Cash
-0.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93