Updated Oct 29, 2024
Pentaurus Acquires 18-Unit Multifamily In Summit For $10M
53 Division Avenue
$10,000,000
$434/SF
Building Size
23,012 SF
Asset Type
MultiFamily
Closing
Feb 28, 2023
About this deal
AI
The sale of a multifamily property located at 53 Division Avenue in Summit has been completed. The property consists of 18 units, with a total square footage of 23,012. The sale price for this transaction was $10,000,000, resulting in a price per unit of $555,556 and a price per square foot of $435.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,000,000
- Units: 18
- Price Per Unit: $555,556
- Square Footage: 23,012
- Price Per Square Foot: $435
- Address: 53 Division Avenue, Summit
The buyer for this transaction is Pentaurus, while the seller is PDr. The deal was brokered by Adam Zweibel of Hudson Atlantic Realty.
Market 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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93