Patrick Durken Acquires Package Deal In Ridgewood From Jay Friedberg For $2.8 Million
SOLD
$2,800,000
New Jersey
See Similar DealsPackage Deal10,000 SF
Sold 03/14/2025
SOLD
Patrick Durken Acquires Package Deal In Ridgewood From Jay Friedberg For $2.8 Million
599 North Maple Avenue
See Similar DealsPackage Deal10,000 SF
Sold 03/14/2025
Summary
NEW JERSEY
Asset Type:Package Deal
Price Per Square Foot:$280
Total Square Footage:10,000 SF
Transaction Type:Sale
A package deal located at 599 North Maple Avenue in Ridgewood has been sold for $2,800,000. The asset encompasses a total square footage of 10,000, translating to a price per square foot of $280.
Summary of transaction details:
- Property Type: Package Deal
- Transaction Amount: $2,800,000
- Address: 599 North Maple Avenue
- Market: Ridgewood
- Square Footage: 10,000
- Price per Square Foot: $280
The buyer, Patrick Durken, was represented in the transaction by Joseph Aziz from Prestige Property Group, while the seller, Jay Friedberg, was represented by Jason Koziol.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$149,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,947.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,273.43
Annual Debt Service$159,281.14
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