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74 River St, East Rutherfor...

Frank Pugliese Jr. Acquires Multifamily Property In East Rutherford For $1.2M
SOLDMultiFamily

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

David Ciliento

Broker

$2.4M

vol

2 deals

Broker

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