Joel Phillip Acquires Industrial Property In Paterson For $2.8M
SOLD
$2,800,000
New Jersey
See Similar DealsIndustrial19,760 SF
Sold 04/20/2022
SOLD
Joel Phillip Acquires Industrial Property In Paterson For $2.8M
200 Keen Street, Paterson, New Jersey 07524, United States
See Similar DealsIndustrial19,760 SF
Sold 04/20/2022
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$141
Total Square Footage:19,760 SF
Transaction Type:Sale
The industrial property at 200 Keen St in Paterson has been sold in a recent transaction. The property spans 19,760 square feet and was sold for a price of $2,800,000, resulting in a price per square foot of $142. The sale was completed on April 20, 2022.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $2,800,000
- Address: 200 Keen St, Paterson
- Market: Paterson
Joel Phillip purchased the property, while the seller was 200 Keen Street, LLC. The seller was represented by Melissa Rubenstein from Christie’s International Real Estate Northern New Jersey.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$149,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,947.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,273.43
Annual Debt Service$159,281.14
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