Updated Oct 28, 2024
RET Industrial Acquires Industrial Property In Paterson, NJ For $15M
55 East 6th Street, Paterson, New Jersey 07524, United States
$15,000,000
$98/SF
Building Size
152,000 SF
Asset Type
Industrial
Closing
May 15, 2022
About this deal
AI
The industrial property located at 55 E. 6th St. in Paterson, NJ has been sold in a recent transaction. The property spans a total area of 152,000 square feet and was sold for a price of $15,000,000, resulting in a price per square foot of $98. The buyer in this transaction is RET Industrial represented by Jack Edelstein and Yochi Twersky. The seller of the property is Kirker Enterprises Inc. The deal was facilitated by brokers Russell Verducci and Eric Demmers from NAI James E. Hanson.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $15,000,000
- Address: 55 E. 6th St., Paterson, NJ
- Market: Paterson, NJ
In this sale, RET Industrial, represented by Jack Edelstein and Yochi Twersky, acquired the industrial property located at 55 E. 6th St. The seller, Kirker Enterprises Inc., successfully closed the deal with the assistance of brokers Russell Verducci and Eric Demmers from NAI James E. Hanson.
On the Map
$15,000,000
$98/SF
Industrial
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Players
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
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93