Frank Pugliese Jr. Acquires Multifamily Property In East Rutherford For $1.2M
74 River St, East Rutherford, NJ, USA
$1,200,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 15, 2021
AI
A multifamily property located at 74 River St in East Rutherford, NJ was recently sold for $1,200,000 on November 15, 2021. The transaction was facilitated by Frank Pugliese Jr. from Prominent Properties Sotheby's International Realty-Alpine, who represented the buyer, and David Ciliento from Modern Realty Group and Jason Hornstra, who represented the seller.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,200,000
- Address: 74 River St, East Rutherford, NJ
- Market: East Rutherford, NJ
This sale represents a successful transaction in the multifamily property market. The involvement of Frank Pugliese Jr. from Prominent Properties Sotheby's International Realty-Alpine, as the buyer's representative, and David Ciliento from Modern Realty Group and Jason Hornstra as the seller's representatives, highlights the expertise and professionalism of the individuals and agencies involved in the deal.
Players
East Rutherford 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
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93