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6111 Park Avenue

MLS Group Purchases Multifamily Asset At 6111 Park Avenue From Salvatore Galascio For $2.115M
SOLDMultiFamily

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

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.

Players

Jonathan Zamora

Marcus & Millichap

Broker

$76.4M

vol

24 deals

Broker

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