Leles Brothers Coffee Acquires 9-Unit Multifamily In Garfield, NJ For $2.075M
81 Grand Street
$2,075,000
$276/SF
Building Size
7,500 SF
Asset Type
MultiFamily
Closing
Apr 30, 2024
AI
The multifamily property located at 81 Grand Street in Garfield, NJ, was sold for $2,075,000. This property comprises 9 units with a total square footage of 7,500. The price per unit is $230,556, and the price per square foot is $277.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,075,000
- Buyer: George Leles & Dimitri Leles
- Seller: Naim Nihmen
- Buyer's Representative: Christian Schaefers - Compass
- Seller's Representative: Casey Egan - RIPCO
George & Dimitri Leles, who own Leles Brothers Coffee in Garfield, NJ, expanded their investment in the town with the purchase of this 9-unit building.
Players
Garfield 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
7.64%
Cash-on-Cash
-2.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93