Updated Dec 4, 2024
Erkan Demirciyan Acquires Multifamily Property At 315 2nd Street In Cliffside Park, NJ
315 2nd Street
$800,000
$298/SF
Building Size
2,684 SF
Asset Type
MultiFamily
Closing
Nov 21, 2023
About this deal
AI
The recently closed property transaction in Cliffside Park, NJ involved a multifamily asset located at 315 2nd Street. This property comprises two units, spanning a total of 2,684 square feet. The sale price of this transaction was $800,000, with a cost per unit of $400,000. The price per square foot was calculated to be $298.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $800,000
- Address: 315 2nd Street, Cliffside Park, NJ
- Units: 2
- Square Footage: 2,684 square feet
- Price Per Unit: $400,000
- Price Per Square Foot: $298
The buyer in this transaction was Erkan Demirciyan, while the seller was Sev Eguder. Representing the deal was Gershon Adjaye from Keller Williams.
Cliffside 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
19.83%
Cash-on-Cash
-5.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93