Kislak Acquires Multifamily Portfolio In North Arlington For $8.4M
132 Ridge Road, North Arlington, New Jersey 07031, United States
$8,441,836
Building Size
—
Asset Type
MultiFamily
Closing
Jul 7, 2022
AI
A multifamily property portfolio in North Arlington has been sold for a total of $8,441,836. The portfolio consists of three properties located at 132-136 Ridge Road, 124-126 Ridge Road, and 3 Wesley Place. Ridgeview Apartments at 132-136 Ridge Road includes 37 residential units and four offices. Additionally, 124-126 Ridge Road features four residential units and three retail spaces, while 3 Wesley Place has two residential units.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $8,441,836
- Units: 50
- Price Per Square Foot: $168,837
- Brokers: Andrew Scheinerman, Scott Davidovic, and Michael Kossak - Kislak
The deal was facilitated by Andrew Scheinerman, Scott Davidovic, and Michael Kossak from Kislak. They represented the parties involved in the transaction, acting as brokers for the buyer and seller. The sale of this multifamily property portfolio in North Arlington highlights the expertise and effectiveness of the Kislak team.
Players
North Arlington 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
1.88%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93