Kamson Corp. Sells Morristown Multifamily For $8.55M With Kislak Co. Inc. As Brokers
12 Ridgedale Avenue, Morristown, NJ, USA
$8,550,000
$211/SF
Building Size
40,364 SF
Asset Type
MultiFamily
Closing
Jan 6, 2021
AI
Kamson Corp. has sold a multifamily property located at 12 Ridgedale Avenue in Morristown. The property, consisting of 23 units, was sold for a price of $8,550,000, with a per unit price of $371,739. The transaction was facilitated by Jason Pucci, Justin Lupo, Joseph Keenan, & Robert Holland of Kislak Co. Inc.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,550,000
- Address: 12 Ridgedale Avenue
- Market: Morristown
- Units: 23
- Price Per Unit: $371,739
The sale of the property was handled by Jason Pucci, Justin Lupo, Joseph Keenan, & Robert Holland, representing Kislak Co. Inc. This transaction took place on January 7, 2021.
Players
Morristown MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.86%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93