Joel Phillip Acquires Industrial Property In Paterson For $2.8M
200 Keen Street, Paterson, New Jersey 07524, United States
$2,800,000
$141/SF
Building Size
19,760 SF
Asset Type
Industrial
Closing
Apr 19, 2022
AI
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.
Paterson 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
5.67%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93