F&C Realty Co. LLC Sells 88-Unit Multifamily Building In East Orange For $11.75M
284 Prospect Street, Ridgewood, NJ 07450, USA
$11,750,000
$4,272/SF
Building Size
2,750 SF
Asset Type
MultiFamily
Closing
Oct 5, 2021
AI
The multifamily property located at 255 Prospect St & 284 Prospect St. in East Orange has been sold. The transaction was facilitated by David Oropeza and Debbie Pomerantz of Gebroe-Hammer Associates on behalf of the seller, F&C Realty Co. LLC.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $11,750,000
- Units: 88
- Price Per Unit: $133,523
The sale of this property marks a significant transaction in the East Orange market. David Oropeza and Debbie Pomerantz, representing Gebroe-Hammer Associates, played a crucial role in overseeing the deal, ensuring a successful transaction for the seller, F&C Realty Co. LLC. The property offers a total of 88 units, making it an attractive investment opportunity in the multifamily market.
Players
Ridgewood MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.35%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93