Updated Dec 4, 2024
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
About this deal
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
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