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1709 Madison Street

Alex Lebowitz's Partners Path Acquires Ridgewood Multifamily For $3.4M
SOLDMultiFamily

Alex Lebowitz's Partners Path Acquires Ridgewood Multifamily For $3.4M

$3,400,000

$607/SF

Building Size

5,600 SF

Asset Type

MultiFamily

Closing

Sep 28, 2023

AI

A multifamily property located in Ridgewood has recently been sold for a total price of $3,400,000. The property consists of 6 units with an average price per unit of approximately $566,667. The total square footage of the property is 5,600, resulting in a price per square foot of $607.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,400,000
  • Units: 6
  • Price per Unit: $566,667
  • Square Footage: 5,600
  • Price per Square Foot: $607
  • Market: Ridgewood

Alex Lebowitz, representing Partners Path, acted as the buyer in this transaction. Marcel Fridman from Barcel Group served as the broker. Their expertise and involvement contributed to the successful completion of the deal.

Players

Marcel Fridman

Barcel Group

Broker

$451.5M

vol

141 deals

Broker
Alex Lebowitz

Alex Lebowitz

Partners Path

Buyer

$42.9M

vol

11 deals

Buyer

Ridgewood MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.67%

Cash-on-Cash

-1.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93