Updated Jan 27, 2025
Charles Zanna Purchases Multifamily Property In Paterson For $1.64M With Broker Frank DeBari
21st Avenue
$1,640,000
$164/SF
Building Size
10,000 SF
Asset Type
MultiFamily
Closing
Jan 10, 2025
About this deal
AI
The multifamily asset located at 217 21st Avenue in Paterson, Passaic County has been sold for a transaction amount of $1,640,000. The property comprises 10 units with a total square footage of 10,000, resulting in a price per unit of $164,000 and a price per square foot of $164.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $1,640,000
- Units: 10
- Square Footage: 10,000
- Price Per Unit: $164,000
- Price Per Square Foot: $164
- Buyer: Charles Zanna
- Broker: Francis “Frank” DeBari - Century 21 Preferred Realty
The brokerage involved in this transaction is Century 21 Preferred Realty, represented by Francis “Frank” DeBari. Charles Zanna acted as the buyer in this deal, navigating the multifamily real estate market in Paterson, Passaic County.
Players
Paterson 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
9.67%
Cash-on-Cash
-2.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93