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Michael Arabia Of Evelyn G. Rafter & Associates Represents Buyer In $1.6M West New York Multifamily Sale
SOLD
$1,600,000
New Jersey
See Similar DealsMultiFamily
Sold 09/13/2024
SOLD
Michael Arabia Of Evelyn G. Rafter & Associates Represents Buyer In $1.6M West New York Multifamily Sale
5107 Boulevard East
See Similar DealsMultiFamily
Sold 09/13/2024
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$85,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,684.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,584.82
Annual Debt Service$91,017.80
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