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Uemgee Hwang Of Realty One Group Portfolio Represents Buyer In $2.5M Fort Lee Multifamily Sale

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SOLD
$2,500,000

New Jersey

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MultiFamily
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SOLD

Uemgee Hwang Of Realty One Group Portfolio Represents Buyer In $2.5M Fort Lee Multifamily Sale

157 English Street

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MultiFamily
Sold
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Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale

A two-family house at 157 English Street in Fort Lee has been sold for $2.5 million. The property, constructed in 2004, consists of identical units that each feature 4 bedrooms, 2 full baths, and 2 half baths, along with finished basements. The property was sold as-is and did not utilize a lockbox.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,500,000
  • Units: 2
  • Price Per Unit: $1,250,000
  • Buyer's Representative: Uemgee Hwang - Realty One Group Portfolio
  • Seller's Representative: Soo Joung Woo - C Land Realty
  • Date of Sale: 08/16/2024
  • Market: Fort Lee

Uemgee Hwang represented the buyer in this transaction, while Soo Joung Woo acted on behalf of the seller. The deal reflects the collaborative efforts of both representatives to facilitate the sale of this multifamily property.

Players

Uemgee "Olivia" Hwang
3 deals$3.7M volume
BROKER

Soo Joung Woo
C Land Realty
1 deal$2.5M volume(201) 486-0885
BROKER

Details

SOLD
IMAGE: Uemgee Hwang & Soo Joung Woo DATE: 08/16/2024 ADDRESS: 157 English Street MARKET: Fort Lee ASSET TYPE: Multifamily BUYER'S REP: Uemgee Hwang - Realty One Group Portfolio SELLER'S REP: Soo Joung Woo (@Soowoo.usa) - C Land Realty SALE PRICE: $2,500,000 UNITS: 2 ~ PPU: $1,250,000 NOTE: A two-family house on 157 English Street in Fort Lee sold for $2.5 million. The property, built in 2004, features identical units with 4 bedrooms, 2 full baths, 2 half baths, and finished basements, and was sold as-is with no lockbox.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$133,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31