Andrew Scheinerman Of Kislak Brokers $38.5M Sale Of 88-Unit Multifamily In Hackensack
SOLD
$38,500,000
New Jersey
See Similar DealsMultiFamily
Sold 04/29/2022
SOLD
Andrew Scheinerman Of Kislak Brokers $38.5M Sale Of 88-Unit Multifamily In Hackensack
22 Sussex Street, Hackensack, New Jersey 07601, United States
See Similar DealsMultiFamily
Sold 04/29/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 22 Sussex St in Hackensack was recently sold in a transaction facilitated by Andrew Scheinerman of Kislak. The sale, which took place on April 29, 2022, had a total sale price of $38,500,000. The property consists of 88 units, resulting in a price per unit (PPU) of $437,500.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $38,500,000
- Units: 88
- Price per Unit (PPU): $437,500
Andrew Scheinerman of Kislak served as the broker in this transaction, representing the parties involved. The sale of this multifamily property in Hackensack marks a significant milestone in the real estate market, highlighting the value and demand for properties in the area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,053,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$136,782.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$182,509.64
Annual Debt Service$2,190,115.70
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