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99-101 Belmont Ave, Paterso...

Golden Equities LLC Sells 133-unit Paterson & Passaic Multifamily Portfolio For $17M With Debbie Pomerantz - Gebroe-Hammer Associates As The Broker
SOLDMultiFamily

Golden Equities LLC Sells 133-unit Paterson & Passaic Multifamily Portfolio For $17M With Debbie Pomerantz - Gebroe-Hammer Associates As The Broker

99-101 Belmont Ave, Paterson, NJ, USA

$17,000,000

Building Size

Asset Type

MultiFamily

Closing

Jan 4, 2021

AI

The multifamily property located at 99-101 Belmont Ave, 113 Godwin Ave, 51-57 Park Ave, 120-128 Park Ave, 130-132 N. 3rd, 102-104 Beech St, 104-106 Beech St, and 3 Lucille Place in Paterson and Passaic was recently sold for $17,000,000. This transaction was completed by Golden Equities LLC. The property consists of 133 units, with a price per unit of $127,820.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $17,000,000
  • Units: 133
  • Price per Unit: $127,820

Debbie Pomerantz, a representative from Gebroe-Hammer Associates, acted as the broker for this sale. Debbie Pomerantz played a key role in facilitating the transaction between the buyer and the seller.

Players

Debbie Pomerantz

Gebroe-Hammer Associates

Broker

$135.2M

vol

13 deals

Broker

Paterson 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

0.93%

Cash-on-Cash

-0.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93