Updated Oct 28, 2024
The RMG Group Acquires Multifamily Property In Belleville For $6M
417 Main Street, Belleville, New Jersey 07109, United States
$6,000,000
$120/SF
Building Size
50,000 SF
Asset Type
MultiFamily
Closing
Jan 26, 2022
About this deal
AI
The RMG Group has acquired a multifamily property located at 417 Main Street in Belleville. The transaction was facilitated by Kevin McCrann of Redwood Realty Advisors on behalf of the buyer. The seller in the deal was Gabriel Realty. The property consists of 46 units, totaling 50,000 square feet, and was sold for a price of $6,000,000. The per unit price was $130,435, and the price per square foot was $120.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,000,000
- Date: 01/27/2022
- Address: 417 Main Street
- Market: Belleville
Kevin McCrann of Redwood Realty Advisors represented The RMG Group in the transaction, showcasing their expertise in the Belleville market. The successful acquisition of this multifamily property highlights the strong demand for such assets in the area.
On the Map
$6,000,000
$120/SF
MultiFamily
View full map
Belleville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Kevin McCrann to view all their deals.
Browse New Jersey multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93