Debbie Pomerantz Acquires Multifamily Property On Broadway In Paterson For $22.7M
595-609 Broadway, Paterson, New Jersey 07514, United States
$22,700,000
Building Size
—
Asset Type
MultiFamily
Closing
Jan 28, 2022
AI
A multifamily property located at 595-609 Broadway in Paterson was recently sold for a total price of $22,700,000. The sale was facilitated by Debbie Pomerantz of Gebroe-Hammer Associates. The property consists of 118 units, with an average price per unit of $192,373.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $22,700,000
- Units: 118
- Price per Unit: $192,373
Debbie Pomerantz of Gebroe-Hammer Associates acted as the broker in this transaction. The sale of the property at 595-609 Broadway in Paterson marks a significant deal in the multifamily market.
Paterson 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
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93