Novas Realty, LLC Acquires Palisades Park Multifamily For $1.85M
SOLD
$1,850,000
New Jersey
See Similar DealsMultiFamily5,680 SF
Sold 12/09/2021
SOLD
Novas Realty, LLC Acquires Palisades Park Multifamily For $1.85M
19 Cleveland Place, Palisades Park, NJ 07650, USA
See Similar DealsMultiFamily5,680 SF
Sold 12/09/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$325
Total Square Footage:5,680 SF
Transaction Type:Sale
A multifamily property located at 19 Cleveland Pl in Palisades Park, NJ was recently sold for $1,850,000. The property spans 5,680 square feet, resulting in a price per square foot of $325. The sale took place on December 9, 2021.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $1,850,000
- Address: 19 Cleveland Pl, Palisades Park, NJ
- Market: Palisades Park, NJ
The buyer was represented by Peter S. Oh from Novas Realty, LLC, while the seller was represented by Brian S. Kim from Proper Estates, Inc.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$98,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,572.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,769.94
Annual Debt Service$105,239.33
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