Updated Sep 9, 2024
Marcus & Millichap Sells West New York Multifamily For $2.5M With Fahri Ozturk, Richard Gatto, & David Ferber As Brokers
6008 Monroe Place, West New York, NJ 07093
$2,500,000
$230/SF
Building Size
10,850 SF
Asset Type
MultiFamily
Closing
Oct 25, 2021
About this deal
AI
A multifamily property located at 6008 Monroe Place in West New York, NJ has been sold for a price of $2,500,000. The property consists of 16 units with a price per unit of $156,250. The total square footage of the property is 10,850, resulting in a price per square foot of $230. This value-add multifamily asset presents an opportunity for growth and improvement.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,500,000
- Units: 16
- Price Per Unit: $156,250
- Square Footage: 10,850
- Price Per Square Foot: $230
The sale of this multifamily property was facilitated by Fahri Ozturk, Richard Gatto, and David Ferber, CPA from Marcus & Millichap. Their expertise and representation played a crucial role in the successful completion of this transaction.
Players
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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93