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Joseph Gehler & David Betesh Facilitate $19.8M Sale Of Multifamily Property In Leonia
SOLD
$19,800,000
New Jersey
See Similar DealsMultiFamily
Sold 02/15/2024
SOLD
Joseph Gehler & David Betesh Facilitate $19.8M Sale Of Multifamily Property In Leonia
159 Fort Lee Road
See Similar DealsMultiFamily
Sold 02/15/2024
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,056,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$70,345.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$93,862.10
Annual Debt Service$1,126,345.22
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