Updated Jul 22, 2026
David Betesh Of ICON Real Estate Advisors Represents Buyer And Seller In $4.1M Bayonne Multifamily Sale
5-7 Kelly Parkway
$4,100,000
Units
25
Asset Type
MultiFamily
Closing
Jul 20, 2026
About this deal
AI
5-7 Kelly Parkway is a 25-unit multifamily apartment building located in Bayonne, New Jersey. The property was sold for $4,100,000, translating to a price per unit of $164,000. This transaction marks the end of more than 50 years of ownership by the Brancatella family.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $4,100,000
- Units: 25
- Price Per Unit: $164,000
- Market: Bayonne, NJ
- Broker: David Betesh - ICON Real Estate Advisors
David Betesh of ICON Real Estate Advisors represented both the buyer and seller in this transaction. The broker noted that the property's stable income and potential for rent growth significantly attracted investor interest.
Sullivan MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit David Betesh to view all their deals.
Browse Sullivan multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.87%
Cash-on-Cash
-1.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93