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22 Avenue at Port Imperial,...

Martin Wayne Borstad Acquires Condo At 22 Ave At Port Imperial, West New York For $917K
SOLD

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

Kevin Cavanaugh

Compass

Broker

$5.6M

vol

5 deals

Broker

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