Updated Dec 4, 2024
Joseph Gehler & David Betesh Facilitate $19.8M Sale Of Multifamily Property In Leonia
159 Fort Lee Road
$19,800,000
Units
80
Asset Type
MultiFamily
Closing
Feb 15, 2024
About this deal
AI
The multifamily property located at 159 Fort Lee Road in Leonia was sold by Fairlawn Co for $19,800,000. The asset consists of 80 units, with a per unit price of $247,500.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $19,800,000
- Units: 80
- Price Per Unit: $247,500
- Address: 159 Fort Lee Road
- Market: Leonia
Joseph Gehler and David Betesh from Gebroe-Hammer Associates represented both the seller, Fairlawn Co, in the transaction.
The multifamily sale at 159 Fort Lee Road in Teaneck, New Jersey sold for $19.8M in 2024. Reported inventory is 80 units across 80 units. Joseph Gehler, David Betesh, Gebroe-Hammer Associates, Cushman & Wakefield appear on the sale alongside Gebroe-Hammer Associates, Cushman & Wakefield. This page is the Teaneck, New Jersey file for the 159 Fort Lee Road multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Teaneck sit in the Market section below. Filter that Teaneck multifamily set by closing date to see what else sold near 159 Fort Lee Road around 2024. Published consideration for 159 Fort Lee Road is $19.8M, dated 2024. Cite this Joseph Gehler & David Betesh Facilitate $19.8M Sale Of Multifamily Property In Leonia sale when underwriting similar multifamily product around Teaneck, New Jersey.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.80%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93