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5414 Park Avenue west

Gebroe-Hammer Associates Facilitates $3.95M Sale Of West New York Multifamily Property
SOLDMultiFamily

Gebroe-Hammer Associates Facilitates $3.95M Sale Of West New York Multifamily Property

5414 Park Avenue west

$3,950,000

Building Size

Asset Type

MultiFamily

Closing

Nov 2, 2023

AI

A 22-unit midrise apartment building located at 5414 Park Avenue in West New York, New Jersey has been sold for $3,950,000. The property is owned by 5414 Park Avenue LLC and was sold through the efforts of Gebroe-Hammer Associates. The apartment building's prime location in a highly sought-after area with strong renter demand made it an attractive investment opportunity.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $3,950,000
  • Address: 5414 Park Avenue, West New York, New Jersey
  • Market: West New York

Gebroe-Hammer Associates, represented by David Betesh, played a key role in facilitating the sale of this property. The successful transaction highlights the expertise and strategic approach of Gebroe-Hammer Associates in the real estate market.

Players

David Betesh

ICON Real Estate Advisors

Broker

$62.9M

vol

5 deals

Broker

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

4.02%

Cash-on-Cash

-1.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93