Updated Dec 4, 2024
Hudson Atlantic Realty Sells Lakeside Residences Multifamily In Pompton Lakes For $20M
21 Lakeside Avenue
$20,000,000
Units
52
Asset Type
MultiFamily
Closing
Nov 17, 2023
About this deal
AI
Hudson Atlantic Realty has closed the sale of Lakeside Residences, a 52-unit luxury apartment building located at 21 Lakeside Avenue in Pompton Lakes. The property, built in 2022, features high-end finishes and amenities. It offers convenient access to Manhattan via a 5-minute walk to direct bus service. The sale price for Lakeside Residences was $20 million, achieving a rate of over $385,000 per unit.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $20,000,000
- Units: 52
- Price Per Unit: $384,615
- Broker: Adam Zweibel - Hudson Atlantic Realty
Adam Zweibel, from Hudson Atlantic Realty, represented the parties involved in the sale of Lakeside Residences.
Pompton Lakes 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93