Debbie Pomerantz Acquires Multifamily Property On Broadway In Paterson For $22.7M
SOLD
$22,700,000
New Jersey
See Similar DealsMultiFamily
Sold 01/28/2022
SOLD
Debbie Pomerantz Acquires Multifamily Property On Broadway In Paterson For $22.7M
595-609 Broadway, Paterson, New Jersey 07514, United States
See Similar DealsMultiFamily
Sold 01/28/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,210,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$80,648.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$107,609.58
Annual Debt Service$1,291,314.97
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