283 Main St LLC Acquires Multifamily Property In Ridgefield Park For $7.8M
SOLD
$7,800,000
New Jersey
See Similar DealsMultiFamily24,600 SF
Sold
SOLD
283 Main St LLC Acquires Multifamily Property In Ridgefield Park For $7.8M
283 Main Street, Ridgefield Park, NJ, USA
See Similar DealsMultiFamily24,600 SF
Sold
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$317
Total Square Footage:24600 SF
Transaction Type:Sale
283 Main Street, 115 Laurel St, and 155 Fourth St. in Ridgefield Park have been sold in a closed transaction. The multifamily property, spanning 24,600 square feet, was sold for a total of $7,800,000. The sale price per square foot was $317. The property consists of 45 units, with each unit costing approximately $173,333.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,800,000
- Address: 283 Main Street, 115 Laurel St, and 155 Fourth St.
- Market: Ridgefield Park
The buyer of 283 Main Street, 115 Laurel St, and 155 Fourth St. is 283 Main St LLC, while the seller is Forte Rosetti LLC. The transaction was facilitated by brokers Daniel Aviles from the Aviles Group and Casey Egan from Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$415,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,711.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,975.98
Annual Debt Service$443,711.75
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