Updated Sep 9, 2024
Marcus & Millichap Sells West New York Multifamily Building For $2.5M
5204 Palisade Ave, West New York, NJ...
$2,500,000
Units
16
Asset Type
MultiFamily
Closing
Nov 22, 2023
About this deal
AI
The property at 5204 Palisade Ave in West New York, NJ, is a 16-unit multifamily building that was sold for $2.5 million. At the time of the transaction, the property was fully occupied.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $2,500,000.00
- Market: West New York
- Seller's Representative: Tyler Van Wagoner (Marcus & Millichap)
Fahri Ozturk and Tyler Van Wagoner from Marcus & Millichap's New Jersey office represented the sellers, who were both private individuals, in the sale of this multifamily property on Palisade Ave.
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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93