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247 7th Street

Jaeseung Lee & Gina Seo Complete Multifamily Sale In Palisades Park For $1.39M
SOLDMultiFamily

Jaeseung Lee & Gina Seo Complete Multifamily Sale In Palisades Park For $1.39M

247 7th Street

$1,390,000

Building Size

Asset Type

MultiFamily

Closing

May 22, 2024

AI

A two-family house located at 247 7th Street in Palisades Park was sold for $1,390,000. The property is modern and east-facing, filled with natural light. It features finished ground floor units with two bedrooms and kitchens, each equipped with its own washer and dryer.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,390,000
  • Address: 247 7th Street
  • Market: Palisades Park

Jaeseung Lee from Eastern Realty represented the buyer in the transaction, while Gina Seo from Kaymax Realty represented the seller. Both parties played pivotal roles in facilitating the sale of this property.

Players

Jaeseung Lee

Eastern Realty

Broker

$2.9M

vol

2 deals

Broker

Palisades Park 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

11.41%

Cash-on-Cash

-3.26%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93