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

Property Image
SOLD
$3,950,000

New Jersey

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MultiFamily
Sold 11/02/2023
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Property Image
SOLD

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

5414 Park Avenue west

See Similar Deals
MultiFamily
Sold 11/02/2023
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale

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
Cushman & Wakefield
David Betesh
5 deals$62.9M volume
BROKER

Details

SOLD
IMAGE: David Betesh DATE: 11/02/2023 ADDRESS: 5414 Park Avenue MARKET: West New York ASSET TYPE: Multifamily SELLER: 5414 Park Avenue LLC BROKER: David Betesh - Gebroe-Hammer Associates SALE PRICE: $3,950,000 UNITS: 22 ~ PPU: $179,545 NOTE: Gebroe-Hammer Associates facilitated the $3.95 million sale of a 22-unit midrise apartment building in West New York, New Jersey. The property's prime location in a highly sought-after area with strong renter demand made it an attractive investment opportunity.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$210,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,033.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,725.02
Annual Debt Service$224,700.18