Kislak Acquires Multifamily Property In Bergenfield For $22.5M
SOLD
$22,500,000
New Jersey
See Similar DealsMultiFamily
Sold 04/20/2022
SOLD
Kislak Acquires Multifamily Property In Bergenfield For $22.5M
15 West Johnson Avenue, Bergenfield, New Jersey 07621, United States
See Similar DealsMultiFamily
Sold 04/20/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
Located at 15 W Johnson Ave in Bergenfield, this multifamily property was recently sold in a closed transaction. The sale was facilitated by brokers Andrew Scheinerman and Robert Squires of Kislak. The property consists of 62 units, with each unit priced at approximately $362,903, resulting in a total sale price of $22,500,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $22,500,000
- Units: 62
- Price Per Unit (PPU): $362,903
This successful transaction highlights the expertise of Andrew Scheinerman and Robert Squires as brokers from Kislak. Their representation played a pivotal role in finalizing the sale of this multifamily property in Bergenfield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,200,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$79,937.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$106,661.48
Annual Debt Service$1,279,937.75
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