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12 Ridgedale Avenue, Morris...

Kamson Corp. Sells Morristown Multifamily For $8.55M With Kislak Co. Inc. As Brokers
SOLDMultiFamily

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

Jason Pucci

Kislak

Broker

$130.8M

vol

10 deals

Broker
KC
Kamson Corp.Seller

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