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2400 5th Street

2400 5th Street Multifamily Sold For $1.625M With Buyer's Rep Ari Mesmer & Seller's Rep William Broderick
SOLDMultiFamily

2400 5th Street Multifamily Sold For $1.625M With Buyer's Rep Ari Mesmer & Seller's Rep William Broderick

2400 5th Street

$1,625,000

Building Size

Asset Type

MultiFamily

Closing

Aug 29, 2023

AI

The property located at 2400 5th Street in Fort Lee has been sold. This multifamily asset was sold for a total price of $1,625,000. The transaction involved Ari Mesmer from RE/MAX Select acting as the buyer's representative and William Broderick from Ridgeco Properties, Inc representing the seller.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,625,000
  • Address: 2400 5th Street, Fort Lee
  • Market: Fort Lee

Ari Mesmer, from RE/MAX Select, facilitated the purchase on behalf of the buyer while William Broderick, from Ridgeco Properties, Inc, represented the seller in this transaction.

Players

William Broderick

Ridgeco Properties

Broker

$8.3M

vol

4 deals

Broker

Fort Lee 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

9.76%

Cash-on-Cash

-2.79%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93