Updated Aug 27, 2026
Joseph Lee Purchases 519 Summit Avenue Multifamily In Fort Lee For $1,108,000 With Seller's Reps
519 Summit Avenue
$1,108,000
$524/SF
Building Size
2,112 SF
Asset Type
MultiFamily
Closing
Jul 1, 2026
About this deal
AI
The property asset involved in this transaction is a multifamily unit located at 519 Summit Avenue in Fort Lee, New Jersey. The sale price for the property was $1,108,000, encompassing a total square footage of 2,112 and a price per square foot of $524.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,108,000
- Address: 519 Summit Avenue
- Market: Fort Lee
- Square Footage: 2,112
- Price Per Square Foot: $524
- Buyer: Joseph Lee
- Seller's Representatives: Jules Garcia - Compass; William Yau & Nikita Idiri - Waterview Advisory Group; Michael Kolsky - Coldwell Banker
This transaction highlights the proficiency of the involved parties, particularly the collaboration among the sellers' representatives. The team is composed of Jules Garcia from Compass, along with William Yau and Nikita Idiri from Waterview Advisory Group, who successfully managed the listing process. Michael Kolsky from Coldwell Banker played a crucial role in ensuring that the sale progressed without issues, showcasing the strategic and connected approach of Waterview Advisory Group in real estate transactions.
Players
Fort Lee 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
14.32%
Cash-on-Cash
-4.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93