Gebroe-Hammer Associates Sells Paterson Multifamily Portfolio For $12.36M
SOLD
$12,360,000
New Jersey
See Similar DealsMultiFamily
Sold 06/09/2022
SOLD
Gebroe-Hammer Associates Sells Paterson Multifamily Portfolio For $12.36M
330 East 23rd Street, Paterson, New Jersey 07514, United States
See Similar DealsMultiFamily
Sold 06/09/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
Debbie Pomerantz of Gebroe-Hammer Associates facilitated the sale of a multifamily property located in Paterson. The property consists of 83 units and is situated at 330 East 23rd St, 112 Coral & 94-96 North 9th Streets, 557 East 28th & 592 East 29th Street, 353 & 369 Fair St., and 90-92 North 5th St.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $12,360,000
- Units: 83
- Price per Unit (PPU): $148,916
The transaction was closed on 06/09/2022. Debbie Pomerantz from Gebroe-Hammer Associates represented the parties involved in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$659,200.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$43,912.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$58,592.71
Annual Debt Service$703,112.47
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