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351 Fair Street, Paterson, ...

Updated Dec 21, 2023

Usher Klein & Chaim Greenfeld Acquire Paterson, NJ Apartments From Yoel Weisz For $1.47M
SOLDMultiFamily

Usher Klein & Chaim Greenfeld Acquire Paterson, NJ Apartments From Yoel Weisz For $1.47M

351 Fair Street, Paterson, New Jersey 07501, United States

$1,465,000

$151/SF

Building Size

9,663 SF

Asset Type

MultiFamily

Closing

Feb 15, 2022

About this deal

AI

The property involved in this closed transaction is located at 349-351 Fair St in Paterson, NJ. It is an apartment building with a total square footage of 9,663. The transaction took place on February 16, 2022, with Usher Klein & Chaim Greenfeld as the buyers and Yoel Weisz as the seller. The sale price for the property was $1,465,000, resulting in a price per square foot of $151.

Summary of transaction details

  • Property Type: Apartments
  • Transaction Amount: $1,465,000
  • Address: 349-351 Fair St, Paterson, NJ
  • Buyer: Usher Klein & Chaim Greenfeld
  • Seller: Yoel Weisz
  • Square Footage: 9,663
  • Price per Square Foot: $151

In this transaction, Usher Klein & Chaim Greenfeld acted as the buyers, while Yoel Weisz represented the seller. The deal represents an opportunity for the buyers to acquire a multi-unit apartment building in Paterson, NJ. The property's characteristics, including its size, location, and price, make it a valuable investment in the real estate market.

Players

Paterson MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $151 per square foot on a published $1.5M for 9,663 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

10.83%

Cash-on-Cash

-3.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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