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69 Main Street, Fort Lee, N...

Blue Diamond Equities And Skywood Properties Acquire Multifamily In Fort Lee, NJ For $55.35M
SOLDMultiFamily

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

Justin Lupo

Kislak

Broker

$194.2M

vol

10 deals

Broker
SP
Skywood PropertiesBuyer

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