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Don Baxter & Danny Handweiler Acquire Union City, West New York & Jersey City Package Deal For $11.1M

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SOLD
$11,100,000

New Jersey

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Package Deal
Sold 09/15/2023
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SOLD

Don Baxter & Danny Handweiler Acquire Union City, West New York & Jersey City Package Deal For $11.1M

1300-1304 Palisade Avenue, 6112-6114 Palisade Avenue & 128 Saint Pauls Avenue

See Similar Deals
Package Deal
Sold 09/15/2023
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Package Deal
Transaction Type:Sale

In a recent property transaction, a package deal consisting of three properties located at 1300-1306 Palisade Avenue, Union City; 6112-6114 Palisade Avenue, West New York; and 128 St. Pauls Avenue, Jersey City, was sold for a total price of $11,100,000. These properties offer a combined total of 66 units, with an average price per unit of $168,182.

Summary of transaction details:

  • Property Type: Package Deal
  • Transaction Amount: $11,100,000
  • Units: 66
  • Price per Unit: $168,182
  • Market: Union City, West New York, and Jersey City

The sale included 44 units at 1300-1306 Palisade Avenue, Union City, which were sold for $6,150,000. Additionally, 16 units at 6112-6114 Palisade Avenue, West New York, were sold for $3,850,000. Lastly, 6 units located at 128 St. Pauls Avenue, Jersey City, were included in the deal for $1,100,000.

Players

Don Baxter
Kislak
Don Baxter
6 deals$37.6M volume
BROKER

Details

SOLD
IMAGE: Don Baxter & Danny Handweiler DATE: 09/15/2023 ADDRESS: 1300-1304 Palisade Avenue, 6112-6114 Palisade Avenue & 128 Saint Pauls Avenue MARKET: Union City, West New York & Jersey City ASSET TYPE: Package Deal SELLER'S REP: Don Baxter (@Runninpenguin) - Kislak (@KislakCompany) SALE PRICE: $11,100,000 UNITS: 66 ~ PPU: $168,182 NOTE FROM SELLER'S REP: The sales included the following: 1300 – 1306 Palisade Avenue, Union City with 44 units for $6,150,000; 6112 – 6114 Palisade Avenue, West New York with 16 units for $3,850,000; and 128 St. Pauls Avenue, Jersey City with 6 units for $1,100,000.

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

$592,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$39,435.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,619.66
Annual Debt Service$631,435.96