Updated Oct 2, 2026
Mike Sour Purchases MultiFamily Property From David Nazarian For $1,950,000 In West New York
6216 Madison Avenue
$1,950,000
$260/SF
Building Size
7,500 SF
Asset Type
MultiFamily
Closing
Jan 6, 2021
About this deal
AI
The property asset involved in this transaction is a multifamily unit located at 6216 Madison Avenue, situated in the West New York market. The transaction was completed for a price of $1,950,000.00, with the building encompassing a total of 7,500 square feet.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $1,950,000.00
- Address: 6216 Madison Avenue
- Market: West New York
- Square Footage: 7,500.0 SF
- Buyer: Mike Sour
- Seller: David Nazarian
- Brokers: Steven Matovski (Redwood Realty Advisors)
The deal involved Mike Sour as the buyer and David Nazarian as the seller. Representing the transaction was broker Steven Matovski from Redwood Realty Advisors, who facilitated the deal's negotiation and execution.
On the Map
$1,950,000
$260/SF
MultiFamily
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Players
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
8.13%
Cash-on-Cash
-2.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93