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Avi Sackton Acquires 19-Unit Multifamily Property From Marisa Monacelli In Paterson For $2.225M

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SOLD
$2,225,000

New Jersey

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MultiFamily12,851 SF
Sold 03/27/2026
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Property Image
SOLD

Avi Sackton Acquires 19-Unit Multifamily Property From Marisa Monacelli In Paterson For $2.225M

496-498 21st Avenue

See Similar Deals
MultiFamily12,851 SF
Sold 03/27/2026
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$173
Total Square Footage:12,851 SF
Transaction Type:Sale

A 19-unit multifamily property located at 496-498 21st Avenue in Paterson, NJ, has been sold for $2,225,000. The property encompasses a total of 12,851 square feet, resulting in a price per unit of $117,105 and a price per square foot of $173. The transaction reflects a 5.20% cap rate and is situated in Passaic County with convenient access to route 80 and route 21.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,225,000
  • Units: 19
  • Square Footage: 12,851
  • Price Per Unit: $117,105
  • Price Per Square Foot: $173
  • Buyer: Avi Sackton
  • Seller: Marisa Monacelli
  • Broker: Casey Egan - Ripco

Casey Egan and Ripco Real Estate represented both Avi Sackton and Marisa Monacelli in this transaction. The deal attracted multiple offers through an exclusive marketing process, highlighting the substantial upside in rental income that appealed to the buyers.

Players

Casey Egan
Ripco
Casey Egan
11 deals$39.3M volume
BROKER

Details

SOLD
IMAGE: Casey Egan DATE: 03/27/2026 ADDRESS: 496-498 21st Avenue MARKET: Paterson ASSET TYPE: Multifamily BUYER: Avi Sackton SELLER: Marisa Monacelli BROKER: Casey Egan (@CaseyEgan11) (@JerseyApartmentBroker) - Ripco (@RipcoInvestmentSales) SALE PRICE: $2,225,000 UNITS: 19 ~ PPU: $117,105 SF: 12,851 ~ PPSF: $173 NOTE FROM BROKER: Casey Egan & RIPCO Real Estate are pleased to announce the closing of a 19-unit multifamily property in Paterson NJ. The property, in Passaic County, is located on 21st Avenue with quick access to route 80 & route 21. RIPCO represented both buyer and seller and procured multiple offers through an exclusive marketing process. The deal sold for a 5.20% cap rate and the buyers were attracted to the deal due to its substantial upside in rental income.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$118,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,904.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,547.64
Annual Debt Service$126,571.62