Updated Sep 9, 2024
Urban Luxe Acquires Multifamily Property In Fort Lee For $1.245M
804 Fairview Lane, Fort Lee, New Jersey 07024, United States
$1,245,000
Building Size
—
Asset Type
MultiFamily
Closing
May 2, 2022
About this deal
AI
Located at 804 Fairview Ln in Fort Lee, this multifamily property was recently sold. The property features a total of units, providing ample living space for residents.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,245,000
The buyer was represented by Uemgee Hwang from Urban Luxe, while the seller was represented by Jee Mee Lim from Realty 7, LLC.
This transaction took place on 05/03/2022 and marks a successful deal in the Fort Lee market. Both parties collaborated with their respective representatives to ensure a smooth and efficient sale process.
Players
Fort Lee 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
12.74%
Cash-on-Cash
-3.64%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93