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430-446 N Wood Ave, 429 Get...

Horvath & Tremblay Facilitates $6.57M Sale Of Four New Jersey Retail Properties
SOLDRetail

Horvath & Tremblay Facilitates $6.57M Sale Of Four New Jersey Retail Properties

430-446 N Wood Ave, 429 Getty Ave, 500-504 Paterson Plank Rd & 698 Broadway

$6,571,000

Building Size

Asset Type

Retail

Closing

Apr 26, 2023

AI

Horvath & Tremblay, a US-based real estate broker, has facilitated the sale of four retail properties located in Linden, Clifton, Union City, and Bayonne, New Jersey. The properties, totaling 1.3 acres, have been sold for a combined price of $6,571,000. They are all fully occupied and boast a diverse mix of tenants.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $6,571,000
  • Address: 430-446 N Wood Ave, 429 Getty Ave, 500-504 Paterson Plank Rd & 698 Broadway
  • Market: Linden, Clifton, Union City, and Bayonne
  • Acres: 1.3

Robert DiFranco, Michael Lombardi, Steven Schiavello, Patrick Gray, and Connor Russo from Horvath & Tremblay acted as the brokers in this transaction. Their efforts led to the successful sale of these properties, further solidifying Horvath & Tremblay's expertise in the commercial real estate market.

Players

Steven Schiavello

Marcus & Millichap

Broker

$21.9M

vol

5 deals

Broker

Paterson Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.41%

Cash-on-Cash

-0.69%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93