Updated May 12, 2025
Ericument Muftahi Acquires Industrial Property In Hackensack For $3.9M
147 Central Avenue
$3,900,000
$205/SF
Building Size
19,000 SF
Asset Type
Industrial
Closing
Aug 30, 2022
About this deal
AI
The property asset involved in this transaction is an industrial asset located at 147 Central Ave in Hackensack, which was sold for $3,900,000. The asset encompasses a total area of 19,000 square feet, resulting in a price per square foot of $205.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,900,000
- Address: 147 Central Ave
- Market: Hackensack
- Square Footage: 19,000
- Price Per Square Foot: $205
- Buyer: Ericument Muftahi
- Seller: Mike Teaton
- Brokers: Eric Anton, Nelson Lee, Nicholas Mulligan & Matthew Nestler - Marcus & Millichap
The deal involved key individuals such as the buyer, Ericument Muftahi, and seller, Mike Teaton. The transaction was facilitated by brokers from Marcus & Millichap, specifically Eric Anton, Nelson Lee, Nicholas Mulligan, and Matthew Nestler, highlighting the expertise present in the handling of this industrial property sale.
On the Map
$3,900,000
$205/SF
Industrial
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Players
New York Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.07%
Cash-on-Cash
-1.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93