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Hugh Merkle & Stephan Frame Facilitate $2.6M Stone Harbor Multifamily Sale

Property Image
SOLD
$2,600,000
Stephan Frame
Hugh Merkle

New Jersey

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MultiFamily
Sold 03/27/2024
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Property Image
SOLD

Hugh Merkle & Stephan Frame Facilitate $2.6M Stone Harbor Multifamily Sale

244 103rd Street

See Similar Deals
MultiFamily
Sold 03/27/2024
Stephan Frame
Hugh Merkle
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property located at 244 103rd Street in Stone Harbor was sold for $2,600,000. Hugh Merkle from Compass represented the buyer, while Stephan Frame from Diller & Fisher Realtors represented the seller.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $2,600,000
  • Address: 244 103rd Street
  • Market: Stone Harbor
  • Buyer's Rep: Hugh Merkle - Compass
  • Seller's Rep: Stephan Frame - Diller & Fisher Realtors

The sale of the property was facilitated by Hugh Merkle from Compass, who represented the buyer in the transaction. On the other side, Stephan Frame from Diller & Fisher Realtors acted as the seller's representative, ensuring a smooth deal between the parties involved.

Players

Stephan Frame
Diller & Fisher Realtors
Stephan Frame
9 deals$32.4M volume
BROKER
Hugh Merkle
Compass
Hugh Merkle
2 deals$4.6M volume(609) 602-0300
BROKER

Details

SOLD
IMAGE: Hugh Merkle & Stephan Frame DATE: 03/27/2024 ADDRESS: 244 103rd Street MARKET: Stone Harbor ASSET TYPE: Multifamily BUYER'S REP: Hugh Merkle (@HughvMerkle) - Compass (@Compass) SELLER'S REP: Stephan Frame (@SteveFrameTeam) - Diller & Fisher Realtors (@DFRealtors) SALE PRICE: $2,600,000 NOTE: The multifamily property located at 244 103rd Street in Stone Harbor was sold for $2,600,000. Hugh Merkle from Compass represented the buyer, while Stephan Frame from Diller & Fisher Realtors represented the seller.

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

$138,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,237.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,325.33
Annual Debt Service$147,903.92