Danny Tommasino Acquires 7-Unit Multifamily Property In Union City, NJ For $1.65M
SOLD
$1,650,000
New Jersey
See Similar DealsMultiFamily5,719 SF
Sold 11/01/2022
SOLD
Danny Tommasino Acquires 7-Unit Multifamily Property In Union City, NJ For $1.65M
601 Bergenline Avenue
See Similar DealsMultiFamily5,719 SF
Sold 11/01/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$288
Total Square Footage:5,719 SF
Transaction Type:Sale
The multifamily property located at 601-603 Bergenline Avenue in Union City, NJ has been sold in a recent transaction. The property consists of 7 units and has a total square footage of 5,719. The sale price for this transaction was $1,650,000, resulting in a price per unit of $235,714 and a price per square foot of $289.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,650,000
- Units: 7
- Price per Unit: $235,714
- Square Footage: 5,719
- Price per Square Foot: $289
In this transaction, the buyer was Danny Tommasino and the seller was Steve Bensadigh. The broker representing both parties in the deal was Zachary Fuchs from GFI Realty Services.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$88,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,862.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,821.84
Annual Debt Service$93,862.10
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