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2400 5th Street Multifamily Sold For $1.625M With Buyer's Rep Ari Mesmer & Seller's Rep William Broderick
SOLD
New Jersey
See Similar DealsMultiFamily
Sold 08/29/2023
SOLD
2400 5th Street Multifamily Sold For $1.625M With Buyer's Rep Ari Mesmer & Seller's Rep William Broderick
2400 5th Street
See Similar DealsMultiFamily
Sold 08/29/2023
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$86,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,773.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,703.33
Annual Debt Service$92,439.95
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