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588 56th Street, West New Y...

Vue Realty Group Closes $999,999 Sale Of 13,000 SF Industrial Property In Hudson County
SOLDIndustrial

Vue Realty Group Closes $999,999 Sale Of 13,000 SF Industrial Property In Hudson County

588 56th Street, West New York, Hudson County, NJ, USA

$999,999

$76/SF

Building Size

13,000 SF

Asset Type

Industrial

Closing

Jul 7, 2021

AI

A 13,000 square foot industrial property located at 588 56th Street in Hudson County has been sold. The transaction took place on 07/07/2021. The property was listed for an asking price of $1,400,000, but ultimately sold for $999,999. This translates to a price per square foot of $76.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $999,999
  • Address: 588 56th Street, Hudson County
  • Market: Hudson County

The deal was closed by brokers Keon L Hazzard from Keonskeys, James Pompa from Vue Realty Group, and Natalie Esfandiari from Weichert. Notably, after multiple unsuccessful attempts to sell the property over nearly a decade, Keon & James from Vue Realty Group successfully listed and closed the deal in under 50 days.

Players

Keon Hazzard

VUE Realty Group

Broker

$2.2M

vol

2 deals

Broker

West 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

15.86%

Cash-on-Cash

-4.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93