CBRE Brokers Nat Gambuzza & Spencer Beriont Facilitate $14.3M Sale Of Multifamily Property In Ridgewood, NJ
SOLD
$14,325,000
New Jersey
See Similar DealsMultiFamily500 SF
Sold 09/21/2021
SOLD
CBRE Brokers Nat Gambuzza & Spencer Beriont Facilitate $14.3M Sale Of Multifamily Property In Ridgewood, NJ
158-174 Union Street, Ridgewood, NJ, USA
See Similar DealsMultiFamily500 SF
Sold 09/21/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$28,650
Total Square Footage:500 SF
Transaction Type:Sale
Located at 158-174 Union Street in Ridgewood, NJ, this multifamily property was recently sold in a closed transaction. The property consists of 31 units, with a per unit price of $462,097. The sale took place on September 21, 2021, and the property was sold by 158-174 Union Street LLC.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $14,325,000
- Address: 158-174 Union Street, Ridgewood, NJ
- Market: Ridgewood, NJ
The sale of this property was facilitated by CBRE brokers Nat Gambuzza and Spencer Beriont. They represented both the buyer and seller in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$763,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$50,893.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$67,907.81
Annual Debt Service$814,893.70
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