Diversified Properties LLC Sells East Rutherford Multifamily For $11.6M
480 Paterson Avenue, East Rutherford, NJ 07073, USA
$11,600,000
$320/SF
Building Size
36,154 SF
Asset Type
MultiFamily
Closing
Sep 28, 2021
AI
Located at 480 Paterson Ave in East Rutherford, this multifamily property was recently sold in a closed transaction. The sale was facilitated by Ken Uranowitz and Debbie Pomerantz from Gebroe-Hammer Associates on behalf of the seller, Diversified Properties LLC - Nicholas Minoia and North Jersey Builders LLC.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $11,600,000
- Units: 35
- Price per Unit (PPU): $331,429
- Market: East Rutherford
- Seller: Diversified Properties LLC - Nicholas Minoia; North Jersey Builders LLC
- Brokers: Ken Uranowitz & Debbie Pomerantz - Gebroe-Hammer Associates
This transaction marks a significant sale in East Rutherford. The property consists of 35 units, with a sale price of $11,600,000, translating to a price per unit of $331,429. Ken Uranowitz and Debbie Pomerantz from Gebroe-Hammer Associates represented the seller, Diversified Properties LLC - Nicholas Minoia and North Jersey Builders LLC, in this deal.
Players
East Rutherford MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.37%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93