F&C Realty Co. LLC Sells 88-Unit Multifamily Building In East Orange For $11.75M
SOLD
$11,750,000
New Jersey
See Similar DealsMultiFamily2,750 SF
Sold 10/05/2021
SOLD
F&C Realty Co. LLC Sells 88-Unit Multifamily Building In East Orange For $11.75M
284 Prospect Street, Ridgewood, NJ 07450, USA
See Similar DealsMultiFamily2,750 SF
Sold 10/05/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$4,272
Total Square Footage:2,750 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$626,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$41,745.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$55,700.99
Annual Debt Service$668,411.93
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