Golden Equities LLC Sells 133-unit Paterson & Passaic Multifamily Portfolio For $17M With Debbie Pomerantz - Gebroe-Hammer Associates As The Broker
SOLD
$17,000,000
New Jersey
See Similar DealsMultiFamily
Sold 01/05/2021
SOLD
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
See Similar DealsMultiFamily
Sold 01/05/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$906,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$60,397.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,588.67
Annual Debt Service$967,064.08
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