Updated Dec 4, 2024
MLS Group Purchases Multifamily Asset At 6111 Park Avenue From Salvatore Galascio For $2.115M
6111 Park Avenue
$2,115,000
$205/SF
Building Size
10,300 SF
Asset Type
MultiFamily
Closing
Jul 2, 2024
About this deal
AI
This multifamily asset located at 6111 Park Avenue in West New York was sold for $2,115,000. The property encompasses a total of 10,300 square feet, resulting in a price per square foot of $205.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $2,115,000
- Address: 6111 Park Avenue
- Market: West New York
- Square Footage: 10,300
- Price per Square Foot: $205
- Buyer: MLS Group
- Seller: Salvatore Galascio
- Broker: Jonathan Zamora - Marcus & Millichap
Jonathan Zamora, representing Marcus & Millichap, facilitated the transaction between MLS Group and seller Salvatore Galascio. The deal reflects the ongoing activity in the multifamily segment of the West New York real estate market.
On the Map
$2,115,000
$205/SF
MultiFamily
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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
7.50%
Cash-on-Cash
-2.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93