Sophia Kim Of Alpine MC Realty Represents Buyer In $1.35M Multifamily Sale In Fort Lee
510 Stillwell Avenue
$1,350,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 26, 2024
AI
A two-unit, 7-bedroom multifamily home located at 510 Stillwell Avenue in Fort Lee was sold for $1.35 million. Each unit in the property features modern kitchens, updated bathrooms, and separate utilities, contributing to its appeal in the market. The property also offers ample parking and is in proximity to schools and transportation, enhancing its value as a strong investment opportunity.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,350,000
- Units: 2
- Price Per Unit: $675,000
- Buyer's Representative: Sophia Kim - Alpine MC Realty
- Seller's Representative: Jee Mee Lim - Re/Max Now
The transaction was represented by Sophia Kim from Alpine MC Realty for the buyer and Jee Mee Lim from Re/Max Now for the seller. Their involvement highlights the collaborative effort between agencies to successfully complete the sale of this multifamily asset in a competitive market.
Players
Fort Lee 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
11.75%
Cash-on-Cash
-3.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93