Martin Wayne Borstad Acquires Condo At 22 Ave At Port Imperial, West New York For $917K
22 Avenue at Port Imperial, West New York, NJ 07093
$917,000
$569/SF
Building Size
1,610 SF
Asset Type
—
Closing
Dec 30, 2021
AI
The sale of a condo located at 22 Ave At Port Imperial in West New York has been completed. The property, captured by Kevin Cavanaugh in an image shared on Instagram, was sold on 12/30/2021. This condo spans a total of 1,610 square feet and boasts a price-per-square-foot value of $570. The transaction involved the buyer, Martin Wayne Borstad, and the seller, Zeke Diwan & Preeti Ramnath.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $917,000
- Asking Price: $895,000
- Square Footage: 1,610
- Price Per Square Foot: $570
- Date of Sale: 12/30/2021
- Image: Kevin Cavanaugh
- Address: 22 Ave At Port Imperial, West New York
The deal was facilitated by Kevin Cavanaugh, a representative from Compass, who acted as the broker during the transaction. This successful sale showcases the strong presence of the condominium market in West New York, with buyers like Martin Wayne Borstad showing their interest in this particular property.
Players
West New York CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
17.30%
Cash-on-Cash
-4.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93