Updated Apr 1, 2025
Jeff Squires Of Kislak Represents Multifamily Sale Of 1407 Morris Avenue And 111 Locust Street For $12M
1407 Morris Avenue & 111 Locust Street
$12,000,000
$6,000,000/SF
Building Size
1 SF
Asset Type
MultiFamily
Closing
Jan 28, 2025
About this deal
AI
The transaction involved a multifamily property located at 1407 Morris Avenue & 111 Locust Street, situated in the Union & Roselle Park market. The sale price for the asset was $12,000,000, encompassing a total of 75 units, resulting in a price per unit of $160,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $12,000,000
- Units: 75
- Price Per Unit: $160,000
- Broker: Jeff Squires
- Agency: Kislak
- Transaction Date: 01/28/2025
Jeff Squires from Kislak represented the brokerage side in this multifamily sale. The transaction highlights the active involvement of brokers in facilitating property deals within the area.
On the Map
$12,000,000
$6,000,000/SF
MultiFamily
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Players
Union 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
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93