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CBRE Brokers Complete $9.5M Multifamily Sale In North Arlington

Property Image
SOLD
$9,525,000
Michael O'Rielly
Brian Antognini
Trevor Fiebel
+ 3

New Jersey

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MultiFamily
Sold 04/19/2022
the dealplayerscompscontact
Property Image
SOLD

CBRE Brokers Complete $9.5M Multifamily Sale In North Arlington

235-241 Ridge Rd, North Arlington, New Jersey 07031, United States

See Similar Deals
MultiFamily
Sold 04/19/2022
Michael O'Rielly
Brian Antognini
Trevor Fiebel
+ 3
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale

A multifamily property located at 235 & 241 Ridge Rd in North Arlington has been sold for a total of $9,525,000. The transaction took place on April 19, 2022, and the property consists of 30 units. The price per unit was approximately $317,500.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $9,525,000
  • Units: 30
  • Price per Unit: $317,500
  • Date: 04/19/2022
  • Address: 235 & 241 Ridge Rd, North Arlington

The sale of this multifamily property was facilitated by a team of brokers from CBRE. The brokers involved in the transaction were Trevor Fiebel, Timothy Blashford, Michael O'Rielly, Brian Antognini, Nat Gambuzza, and Spencer Beriont.

Players

Nat Gambuzza
Berkadia
Nat Gambuzza
74 deals$917.5M volume
BROKER
Trevor Fiebel
Berkadia
Trevor Fiebel
41 deals$479.4M volume
BROKER
Spencer Beriont
Berkadia
Spencer Beriont
24 deals$440.3M volume
BROKER
Timothy (Tim) Blashford
Berkadia
Timothy Blashford
29 deals$313.9M volume
BROKER
Brian Antognini
Berkadia
Brian Antognini
10 deals$142.4M volume
BROKER
Michael O'Rielly
Berkadia
Michael O'Rielly
3 deals$13.8M volume
BROKER

Details

SOLD
IMAGE: Nat Gambuzza & Spencer Beriont DATE: 04/19/2022 ADDRESS: 235 & 241 Ridge Rd MARKET: North Arlington ASSET TYPE: Multifamily BROKERS: Trevor Fiebel (@TrevorTrevv), (@TrevorFiebel), Timothy Blashford (@TimothyBlashford), Michael O'Rielly (@MichaelO'Reilly), Brian Antognini (@BrianAntognini), Nat Gambuzza (@NatGambuzza) & Spencer Beriont (@SpencerBeriont) - CBRE (@CBRE) SALE PRICE: $9,525,000 UNITS: 30 ~ PPU: $317,500

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$508,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$33,840.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,153.36
Annual Debt Service$541,840.31