Updated Oct 5, 2026
SOLDMultiFamily
Elliot Schechter Et Al Acquire Multifamily Asset On Devon Street Kearny For $2.025M
748 Devon Street
$2,025,000
$202/SF
Building Size
10,000 SF
Asset Type
MultiFamily
Closing
Sep 10, 2026
About this deal
AI
The asset involved in this transaction is a multifamily property located at 748 Devon Street, Kearny. It was sold for $2,025,000, encompassing a total of 13 units. The property spans a square footage of 10,000, resulting in a price per unit of $155,769 and a price per square foot of $202.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,025,000
- Units: 13
- Square Footage: 10,000
- Price Per Unit: $155,769
- Price Per Square Foot: $202
- Buyer: Elliot Schechter et al
- Seller: Robert Rutenberg - Rutenberg Family
- Broker: Barbara Gerbasio
This transaction involved Elliot Schechter et al as the buyer, while Robert Rutenberg, representing the Rutenberg Family, was the seller. The deal was facilitated by broker Barbara Gerbasio, highlighting the roles of these key individuals in the real estate transaction.
On the Map
$2,025,000
$202/SF
MultiFamily
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Players
Kearny 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
7.83%
Cash-on-Cash
-2.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93