In My Neighborhood in 07017>Question Details

odelyaa, Other/Just Looking in East Orange, NJ

Hi, I don't live in US but there are agents in my country that speaking about this property. The price they talking about for the whole building

Asked by odelyaa, East Orange, NJ Mon Jan 7, 2013

is about 18 million. The purchase is done by a group, called LLC company.

That's my first time on out-of-country purchase and I really don't understand what's the real price of this property. From ne hand, I see it's 277,000$, from the other hand it's 5.4 million. But none is 18 million.
How can I know the real price? How can I know the agents doesn't "overload" the price?

Please help! I'm really confused.... :(

Thanks in advance,

Help the community by answering this question:


Allen McCloud’s answer
Hi Odelya,
I believe you called me and we spoke about this property. If we spoke the question you are asking here seems to be a little different from what we discussed. If I'm correct you requested information
about the building the neighborhood and that you were an investor that is part of a group and not
the primary purchaser of this property. If I'm correct and you need further information you can contact
me again and I would be glad to assist you.

Allen McCloud
973 746-4777 - Office
201 618-8978 - Mobile
0 votes Thank Flag Link Wed Jan 30, 2013
Thanks so much for your concern. My question was addressed to Odelya. I knew she was interesting in buying a property in the area of East Orange. If she still needs some assistance. I would ask her please to give me a feedback.
Flag Wed Jan 30, 2013
hi Allen.
I'm spoke with you yesterday Not Odelya. Odelia is someone else :)
Flag Wed Jan 30, 2013
Hi Odelya
I would like to know about your experience wth CityR.
Are you satisfied?
Do you recommend?

0 votes Thank Flag Link Mon Sep 1, 2014
First of all, reading info about the property on Trulia, it says the average sales price in the area is $277,000. That's for a single family home, NOT this property. YOur suggestion that an agent will" overload the price" is off base. Sales price, especially for this property, would be based on a income/expenses, property value, depreciation, etc...a somewhat complex formula.

Second, The property in question has a 'tax assessment' of $5.4 million dollars for the building and the land, with annual taxes of about $183,000/ year. Your friend who mentioned $18 million for a purchase price MAY be correct as it appears the property was purchased for over $10 million in 1997. It is currently OWNED by Jersey Properties LLC (an LLC is a Limited Liability Corporaton, NOT a person per se).

Third, this appears to be a 105 unit building and I cannot find it for sale anywhere, but that doesn't mean it's not on the market.

Fourth, if you are looking to purchase a commercial/investment property in the US, may I suggest you contact a LOCAL commercial Real Estate agent in the US. It appears that you don't know enough about real estate in the US to make any descisions on investing just by asking a question on this forum.
0 votes Thank Flag Link Thu Jan 10, 2013
Thanks a lot for the detailed question.
It was my mistake, the property is 5.5$ million.

You are right, I really don't have any experience with the US market but the company I'm talking about has an American agent in US.

Thanks again,
Flag Mon Jan 14, 2013


I am willing to help you with your search. If you really want to buy in East Orange. Tell me your price range , size of property and area preferred.
0 votes Thank Flag Link Mon Jan 7, 2013
Odelya, If you're looking for property in the $5MM to $18MM price range, you can get better properties in NYC. Let me know your range and buying criteria, and I'll get you more valuable property.
0 votes Thank Flag Link Mon Jan 7, 2013

Thanks for your inquiry. Are you working with an agent or not . If not, I am going to get you some information.
0 votes Thank Flag Link Mon Jan 7, 2013

If you tallking about purchasing with city r group then I know that the rael price (Estimated by the Bank) is 5.5 million. not 18 million.
If onther agent told you 18 million then he wrong.
you can call to city r group they allso may buy this Property and they Probably more reliable.
0 votes Thank Flag Link Mon Jan 7, 2013
Hi Maor,
Yes I'm speaking about CityR group. It was my mistake, you are right. But still I don't understand the price in any site I check (about 250,000) against the price they speak about. I must confess the price in the sites doesn't make sense when comparing to others. Do you have any ides?
In addition, do you know CityR?

Thanks a lot,
Flag Tue Jan 8, 2013
I'm speaking about this one: 110 Washington St, East Orange
0 votes Thank Flag Link Mon Jan 7, 2013
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