Michael Arabia Of Evelyn G. Rafter & Associates Represents Buyer In $1.6M West New York Multifamily Sale
5107 Boulevard East
$1,600,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 13, 2024
AI
A multifamily property located at 5107 Boulevard East in West New York has been sold for $1.6 million. This transaction highlights the market dynamics of the West New York area. The property was a multifamily asset, indicating it was likely designed to accommodate multiple residential units, although specific details about its characteristics, such as square footage, were not disclosed.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,600,000
- Address: 5107 Boulevard East
- Market: West New York
- Buyer's Representative: Michael Arabia - Evelyn G. Rafter & Associates
- Seller's Representative: Michael Joo - Howard Hanna Rand Realty
The deal involved key individuals from both sides, with Michael Arabia representing the buyer through Evelyn G. Rafter & Associates, while the seller was represented by Michael Joo of Howard Hanna Rand Realty. This collaboration reflects the professional involvement necessary to navigate the complexities of real estate transactions.
Players
West New York 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
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93