Casey Egan Of Ripco Represents Sale Of Multifamily Asset At 623 Stuyvesant Avenue For $2M

The multifamily property located at 623 Stuyvesant Avenue in Lyndhurst has been sold for $2,000,000. The asset comprises 10 units, offering a price per unit of $200,000. It encompasses a total square footage of 8,457, translating to a price per square foot of $236.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,000,000
• Units: 10
• Price Per Unit: $200,000
• Square Footage: 8,457
• Price Per Square Foot: $236
• Broker: Casey Egan - Ripco

Casey Egan represented the transaction, highlighting that the property presented value-add potential as a suburban walkup with below market rents. The deal was facilitated with 5-year seller financing and generated a total of 15 offers.