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.
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