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$2M Commercial Property Sale At 6001 Bergenline Ave, West New York

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SOLD
$2,000,000

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SOLD

$2M Commercial Property Sale At 6001 Bergenline Ave, West New York

6001 Bergenline Ave, West New York...

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Commercial
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Summary

Asset Type:Commercial
Transaction Type:Sale

The commercial property located at 6001 Bergenline Ave in West New York, New Jersey, housing a net-leased GameStop, has been sold for $2 million. The sale was arranged by Marcus & Millichap, with Steven Schiavello, Michael Lombardi, and Alexander Pildes representing both the buyer and seller. GameStop has been occupying the property since 2002.

Summary of transaction details:

  • Property Type: Commercial
  • Transaction Amount: $2,000,000.00
  • Buyer's Rep: Steven Schiavello (Marcus & Millichap)
  • Seller's Rep: Michael "Mike" Lombardi (Horvath & Tremblay)
  • Buyer: Unknown
  • Seller: Unknown

The private investors involved in the transaction, represented by Steven Schiavello, Michael Lombardi, and Alexander Pildes, successfully closed the deal for the GameStop location. The property's long-term tenant history and prime location contributed to the successful $2 million transaction facilitated by Marcus & Millichap.

Players

Michael "Mike" Lombardi
29 deals$114.8M volume
BROKER

Steven Schiavello
Marcus & Millichap
5 deals$21.9M volume
BROKER

Details

SOLD
IMAGE: 6001 Bergenline Ave, West New York... ASSET TYPE: Commercial BUYER'S REP: Steven Schiavello(Marcus & Millichap) SELLER'S REP: Michael "Mike" Lombardi(Horvath & Tremblay) BUYER: Unknown SELLER: Unknown PRICE: $2,000,000.00

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$106,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24