Lei-Chen Chen & Shyhkuan Chen Acquire Multifamily Asset At 6050 Boulevard East For $820,000
6050 Boulevard East
$820,000
$474/SF
Building Size
1,730 SF
Asset Type
MultiFamily
Closing
Feb 21, 2025
AI
The multifamily asset located at 6050 Boulevard East in West New York features a total of 1,730 square feet. The property was sold for a transaction amount of $820,000, resulting in a price per unit of $820,000 and a price per square foot of $473.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $820,000
- Units: 1
- Square Footage: 1,730
- Price per Unit: $820,000
- Price per Square Foot: $473
- Buyer: Lei-Chen Chen & Shyhkuan Chen
- Seller: Kyle Kox
- Seller's Representative: Gershon Adjaye - Keller Williams Realty
- Attorney: Christopher Martone - Martone & Associates LLC
- Note: All cash sale. No contingencies, aside from standard home inspection.
The buyer in this transaction is Lei-Chen Chen and Shyhkuan Chen, while Kyle Kox serves as the seller. The deal was represented by Gershon Adjaye of Keller Williams Realty, with legal representation provided by Christopher Martone from Martone & Associates LLC.
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
19.35%
Cash-on-Cash
-5.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93