Van Golemis Sells Condo Development In Fort Lee For $19.5M With Taylor Lucyk And Daniel Sokolich As Brokers
483 West Street
$19,500,000
$375/SF
Building Size
52,000 SF
Asset Type
Condo
Closing
Mar 24, 2025
AI
The property asset involved in this transaction is a condo located at 479-491 West Street, 2166-2176 Ellery & 2169-2177 Edwin Avenue in Fort Lee. The sale was finalized for a price of $19,500,000, encompassing a total area of 52,000 square feet, with a price per square foot calculated at $375.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $19,500,000
- Square Footage: 52,000
- Price Per Square Foot: $375
- Seller: Van Golemis
- Seller's Representatives: Taylor Lucyk - Christie's International Real Estate; Daniel Sokolich - Daniel Sokolich Real Estate Enterprises
Daniel Sokolich at Daniel Sokolich Real Estate Enterprises played a significant role in the transaction by assisting in the sale of four of the units in the development, showcasing the collaborative effort involved in this deal.
Players
Fort Lee Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93