Blue Diamond Equities And Skywood Properties Acquire Multifamily In Fort Lee, NJ For $55.35M
69 Main Street, Fort Lee, NJ, USA
$55,350,000
$74,797/SF
Building Size
740 SF
Asset Type
MultiFamily
Closing
Apr 29, 2021
AI
The multifamily property located at 69 Main Street in Fort Lee, NJ has been sold for a total price of $55,350,000. The transaction took place on April 30, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $55,350,000
- Address: 69 Main Street, Fort Lee, NJ
- Market: Fort Lee, NJ
Blue Diamond Equities & Skywood Properties have purchased the property from 69 Main Street Fort Lee Urban Renewal. The transaction involved a total of 142 units, resulting in a price per unit of $389,789. The deal was facilitated by the brokers Scott Davidovic & Justin Lupo from Kislak Co. Inc.
Players
Fort Lee 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
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93