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Sami Louka Purchases Multifamily Property At 71 West 16th Street Bayonne For $675,000

Property Image
SOLD
$675,000

New Jersey

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MultiFamily1,788 SF
Sold 07/28/2024
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Property Image
SOLD

Sami Louka Purchases Multifamily Property At 71 West 16th Street Bayonne For $675,000

71 West 16th Street

See Similar Deals
MultiFamily1,788 SF
Sold 07/28/2024
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$377
Total Square Footage:1,788 SF
Transaction Type:Sale

The property asset involved in this transaction is a multifamily building located at 71 West 16th Street in Bayonne. The sale price was $675,000, and the property features 2 units with a square footage of 1,788. The price per unit was $337,500, and the price per square foot amounted to $377.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $675,000
  • Units: 2
  • Square Footage: 1,788
  • Price Per Unit: $337,500
  • Price Per Square Foot: $377
  • Buyer: Sami Louka
  • Seller: Werner Figar
  • Seller's Representative: Gershon Adjaye - Keller WilliamsTeam Realty

Multiple offers were received within the first day of showings, leading to a full price offer being accepted by the seller with no contingencies. The listing agent, Gershon Adjaye, mentioned that other multifamily properties are available and will be coming to market soon.

Players

Gershon Adjaye
Keller Williams NYC
Gershon Adjaye
27 deals$49.4M volume(973) 583-3030
BROKER

Details

SOLD
IMAGE: Gershon Adjaye DATE: 7/28/2024 ADDRESS: 71 West 16th Street MARKET: Bayonne ASSET TYPE: Multifamily BUYER: Sami Louka SELLER: Werner Figar SELLER'S REP: Gershon Adjaye (@GershGroup) - Keller Williams Team Realty (@KellerWilliamsTeamRealty), (@KellerWilliamsRealty) SALE PRICE: $675,000 UNITS: 2 ~ PPU: $337,500 SF: 1,788 ~ PPSF: $377 NOTE FROM SELLER'S REP: Multiple offers received within the 1st day of showings, producing multiple offers. Full price offer, with no contingencies, was accepted by the seller. Listing agent, Gershon Adjaye, has other multifamily properties available, coming to market.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$36,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$2,398.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,199.84
Annual Debt Service$38,398.13