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409 Bergenline Avenue

Titanium Capital Acquires 23-Unit Multifamily In Union City For $2.35M
SOLDMultiFamily

Titanium Capital Acquires 23-Unit Multifamily In Union City For $2.35M

409 Bergenline Avenue

$2,350,000

$130/SF

Building Size

18,000 SF

Asset Type

MultiFamily

Closing

Mar 5, 2024

AI

The multifamily property located at 409 Bergenline Avenue in Union City has been sold for $2,350,000. The property comprises 23 units with a price per unit of $102,174, spanning 18,000 square feet at a price per square foot of $131.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,350,000
  • Units: 23
  • Price Per Unit: $102,174
  • Square Footage: 18,000
  • Price Per Square Foot: $131
  • Address: 409 Bergenline Avenue
  • Market: Union City

The sale was facilitated by David Betesh of Cushman & Wakefield, representing the buyer, Titanium Capital, and the seller, Chris Yegen from The Yegen Companies.

Players

David Betesh

ICON Real Estate Advisors

Broker

$62.9M

vol

5 deals

Broker

Union City 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

6.75%

Cash-on-Cash

-1.93%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93