Property details
New Jersey Tax Abatement Multifamily For Sale, Northeast Region
Property Description
New Jersey Tax Abatement Multifamily For Sale
Class A project.
Currently under construction (as of 4/5/18).
Framing now.
Approx. 212 units.
All multifamily.
Closing shall take place when the CO is issued.
Estimated value at 90% leased up: $70.5M (based on a 5.00% cap rate).
This property has a has 30 year tax abatement (30 year pilot, payment in lieu of taxes, the best you can get in NJ).
Target tenants: Lots of commuters to NY, walking distance to train stations, lots of young professionals, empty nesters.
Images
Highlights
- Status:
- Available
- Price:
- $65,000,000
Property Information
- Property Type:
- Apartments
- Industry Type:
- Apartment - Multifamily
- Units/Spaces:
- 215
- Year Built:
- 2018
- Purchase Tenure:
- Fee Simple
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.