Blue Diamond Equities And Skywood Properties Acquire Multifamily In Fort Lee, NJ For $55.35M
SOLD
$55,350,000
New Jersey
See Similar DealsMultiFamily740 SF
Sold 04/30/2021
SOLD
Blue Diamond Equities And Skywood Properties Acquire Multifamily In Fort Lee, NJ For $55.35M
69 Main Street, Fort Lee, NJ, USA
See Similar DealsMultiFamily740 SF
Sold 04/30/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$74,797
Total Square Footage:740 SF
Transaction Type:Sale
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
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,952,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$196,646.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$262,387.24
Annual Debt Service$3,148,646.86
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