Kislak Co. Inc Acquires Multifamily Property In Summit For $6.25M
150-158 Broad St, Summit, NJ, USA
$6,250,000
$4,871/SF
Building Size
1,283 SF
Asset Type
MultiFamily
Closing
Sep 27, 2021
AI
A multifamily property located at 150-158 Broad St in Summit has been sold for a price of $6,250,000. The property consists of 10 units, with a price per unit (PPU) of $625,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,250,000
- Units: 10
- PPU: $625,000
- Address: 150-158 Broad St, Summit
The sale of this multifamily property was facilitated by Joseph Keenan & Joni Sweetwood from Kislak Co. Inc. Their expertise and negotiation skills played a crucial role in finalizing the deal.
Players
Summit 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
2.54%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93