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601 Bergenline Avenue

Danny Tommasino Acquires 7-Unit Multifamily Property In Union City, NJ For $1.65M
SOLDMultiFamily

Danny Tommasino Acquires 7-Unit Multifamily Property In Union City, NJ For $1.65M

601 Bergenline Avenue

$1,650,000

$288/SF

Building Size

5,719 SF

Asset Type

MultiFamily

Closing

Nov 1, 2022

AI

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.

Players

Zachary Fuchs

GFI Realty Services

Broker

$325.2M

vol

63 deals

Broker

Danny Tommasino

Buyer

$2.6M

vol

2 deals

Buyer

Union City 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

9.61%

Cash-on-Cash

-2.75%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93