$2M Commercial Property Sale At 6001 Bergenline Ave, West New York
6001 Bergenline Ave, West New York...
$2,000,000
Building Size
—
Asset Type
Commercial
Closing
Nov 22, 2023
AI
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
Market Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93