Multifamily In Palisades Park Sells For $1.9M With Buyer's Rep Kyung Park & Seller's Rep William Broderick
448 1st Street
$1,899,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 17, 2023
AI
A multifamily property located at 448 1st Street in Palisades Park was sold for $1,899,000. The property is situated in a desirable location in Palisades Park and offers multiple units for residential use. It is a valuable asset for both the buyer and the seller.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $1,899,000
- Address: 448 1st Street
- Market: Palisades Park
The buyer, represented by Kyung Park of Young Star Realty, recognized the potential of this multifamily property and successfully negotiated the purchase. On the other side, the seller, represented by William Broderick of Ridgeco Properties, facilitated the transaction and ensured a smooth process for both parties involved.
NOTE: A significant milestone was achieved in Palisades Park with the successful sale of the multifamily property located at 448 1st Street. The buyer, represented by Kyung Park of Young Star Realty, acquired this valuable asset for $1,899,000. William Broderick of Ridgeco Properties acted as the seller's representative, bringing the deal to a successful conclusion.Players
Palisades Park 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
8.35%
Cash-on-Cash
-2.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93