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181-187 Grand Avenue

Glenn Polasky Acquires Multifamily Property In Hackensack, NJ For $2.1M
SOLDMultiFamily

Glenn Polasky Acquires Multifamily Property In Hackensack, NJ For $2.1M

181-187 Grand Avenue

$2,100,000

$437/SF

Building Size

4,800 SF

Asset Type

MultiFamily

Closing

Jun 28, 2024

AI

The multifamily property located at 181-187 Grand Avenue in Hackensack, NJ was recently sold for $2,100,000. This property consists of 12 units with a price per unit of $175,000. The total square footage of the property is 4,800, translating to a price per square foot of $438.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,100,000
  • Units: 12
  • Price Per Unit: $175,000
  • Square Footage: 4,800
  • Price Per Square Foot: $438
  • Address: 181-187 Grand Avenue, Hackensack, NJ
  • Market: Hackensack, NJ

The sale of this multifamily property was facilitated by brokers Joseph Spinella and Cole Malinowski from KW Commercial, along with Henry Eisenstein from EXP Realty. Glenn Polasky acquired the property from the seller, Ramzy Azui, at a price that reflects the property's value and potential in the market.

Players

Joseph Spinella

Keller Williams Realty

Broker

$55.7M

vol

24 deals

Broker

Hackensack 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

7.55%

Cash-on-Cash

-2.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93