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265 Highland Avenue, Palisa...

Eastern Realty Acquires Multifamily Property In Palisades Park, NJ For $1.05M
SOLDMultiFamily

Eastern Realty Acquires Multifamily Property In Palisades Park, NJ For $1.05M

265 Highland Avenue, Palisades Park, NJ, USA

$1,050,000

$354/SF

Building Size

2,966 SF

Asset Type

MultiFamily

Closing

Oct 6, 2021

AI

Located at 265 Highland Ave in Palisades Park, NJ, this multifamily property was recently sold for a price of $1,050,000. The property consists of 4 units, with each unit having a price per unit of $262,500. The transaction was completed on October 6, 2021. The image accompanying this post features Bok Kim and Justin Kang.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,050,000
  • Address: 265 Highland Ave, Palisades Park, NJ
  • Units: 4
  • Price Per Unit: $262,500
  • Buyer's Rep: Bok Kim - Eastern Realty, Inc.
  • Seller's Rep: Justin Kang - Good Neighbor Realty LLC
  • Date: October 6, 2021

Bok Kim, representing Eastern Realty, Inc., acted as the buyer's representative in this transaction. On the other hand, Justin Kang served as the seller's representative for Good Neighbor Realty LLC. Their roles were instrumental in finalizing the deal for this multifamily property.

Players

Justin King

Broker

$2.2M

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

15.11%

Cash-on-Cash

-4.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93