Updated Jan 17, 2025
Lou Popstefanos Acquires Mixed-Use Property At 450 River Drive In Garfield For $1.4M
450 River Drive
$1,400,000
$73/SF
Building Size
19,125 SF
Asset Type
Mixed-use
Closing
Jan 10, 2025
About this deal
AI
The transaction involved a mixed-use asset located at 450 River Drive in Garfield, which was sold for $1,400,000. The property spans 19,125 square feet, resulting in a price per square foot of $73.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,400,000
- Square Footage: 19,125
- Price per Square Foot: $73
- Buyer: Lou Popstefanos
- Brokers: Curtis Nassau, Stephen R. Preuss Sr., Kevin Louie & Eric Delafraz - Ripco
- Date of Sale: 01/10/2025
The brokers involved in this transaction, representing the buyer, are from RIPCO Real Estate’s investment sales group. They are actively marketing several assets across various asset classes throughout New Jersey, with Kevin Louie being a point of contact for exclusive offerings and property valuations.
On the Map
$1,400,000
$73/SF
Mixed-use
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Players
Garfield Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93