Updated Dec 21, 2023
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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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