RE/MAX Fortune Properties Represents Buyer In $2.7M Multifamily Sale In Palisades Park, NJ
217 Glen Avenue, Palisades Park, New Jersey 07650, United States
$2,700,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 27, 2022
AI
A multifamily property located at 217 Glen Ave in Palisades Park, NJ has been sold for a total of $2,700,000. The transaction took place on 10/28/2022. The property consists of 2 units, with a price per unit of $1,350,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,700,000
- Address: 217 Glen Ave
- Market: Palisades Park, NJ
- Units: 2
- Price per Unit: $1,350,000
The buyer was represented by Chung Hee Lee from RE/MAX Fortune Properties, while the seller was represented by Brian S. Kim from Proper Estates, Inc.
Players
Palisades Park 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
5.88%
Cash-on-Cash
-1.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93