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510 Stillwell Avenue

Sophia Kim Of Alpine MC Realty Represents Buyer In $1.35M Multifamily Sale In Fort Lee
SOLDMultiFamily

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

Jee Mee Lim

Re/Max

Broker

$9.5M

vol

7 deals

Broker

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