Soo Jin Jung & David W. Kwon Sale Palisades Park Multifamily
232 6th St, Palisades Park, NJ, USA
$1,175,000
$290/SF
Building Size
4,040 SF
Asset Type
MultiFamily
Closing
Mar 17, 2021
AI
An multifamily property located at 232 6th St in Palisades Park has been sold for $1,175,000. The property consists of 2 units, with a price per unit of $587,500. The transaction took place on 03/18/2021 and was represented by Soo Jin Jung from Coldwell Banker, Jersey City as the buyer's representative, and David W. Kwon from Group Twenty Six, LLC as the seller's representative.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,175,000
- Units: 2
- Price Per Unit: $587,500
- Market: Palisades Park
- Date: 03/18/2021
Soo Jin Jung from Coldwell Banker, Jersey City represented the buyer in the transaction, while David W. Kwon from Group Twenty Six, LLC represented the seller. This sale represents a successful transaction in the Palisades Park market.
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
13.50%
Cash-on-Cash
-3.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93