Ironbound Partners LLC Acquires Multifamily Property In Paterson, NJ For $2.9M
SOLD
$2,865,000
+ 1
New Jersey
See Similar DealsMultiFamily16,500 SF
Sold 07/22/2020
SOLD
Ironbound Partners LLC Acquires Multifamily Property In Paterson, NJ For $2.9M
773 East 19th Street
See Similar DealsMultiFamily16,500 SF
Sold 07/22/2020
+ 1
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$173
Total Square Footage:16,500 SF
Transaction Type:Sale
A multifamily property located at 773 E 19th St & 149-151 Warren St in Paterson, NJ, has been sold for a price of $2,865,000. The property consists of 22 units, with an average price per unit of $130,227. The total square footage of the property is 16,500, resulting in a price per square foot of $174.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,865,000
- Units: 22
- Price per Unit: $130,227
- Square Footage: 16,500
- Price per Square Foot: $174
The buyer of the property is Ironbound Partners LLC. The sale was facilitated by brokers Tarang Ramani and Jerry Joseph, who represented both the buyer and the seller in this transaction.
Players
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$152,800.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,178.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,581.56
Annual Debt Service$162,978.74
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