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448 1st Street

Multifamily In Palisades Park Sells For $1.9M With Buyer's Rep Kyung Park & Seller's Rep William Broderick
SOLDMultiFamily

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

William Broderick

Ridgeco Properties

Broker

$8.3M

vol

4 deals

Broker

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