Paragon Partners Acquires Retail Property In West New York, NJ For $2.5M
SOLD
$2,500,000
New Jersey
See Similar DealsRetail5,000 SF
Sold 09/08/2022
SOLD
Paragon Partners Acquires Retail Property In West New York, NJ For $2.5M
6003 Bergenline Avenue
See Similar DealsRetail5,000 SF
Sold 09/08/2022
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$500
Total Square Footage:5,000 SF
Transaction Type:Sale
The property asset involved in the transaction is a retail space located at 6003 Bergenline Ave., in West New York, NJ. The transaction was completed at a sale price of $2,500,000, with a total square footage of 5,000, resulting in a price per square foot of $500.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,500,000
- Buyer: Paragon Partners - Chaim Berkovic
- Seller: ALK Property
- Square Footage: 5,000
- Price per Square Foot: $500
Chaim Berkovic represents Paragon Partners in this transaction, while ALK Property is noted as the seller of the retail space. This transaction reflects the ongoing activity in the West New York market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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