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
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