Updated Oct 25, 2024
The Heikel Family Acquires 6-Unit Multifamily In Ridgewood For $1M
18-71 Madison Street
$1,000,000
$178/SF
Building Size
5,600 SF
Asset Type
MultiFamily
Closing
Mar 10, 2023
About this deal
AI
The multifamily property located at 18-71 Madison Street in Ridgewood has been sold. The transaction took place on 03/10/2023, with Lev Mavashev and Ben Normatov from Alpha Realty representing both the buyer and the seller.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,000,000
- Units: 6
- Price per Unit: $166,667
- Total Square Footage: 5,600
- Price per Square Foot: $179
- Address: 18-71 Madison Street, Ridgewood
The buyer in this transaction is The Heikel Family, while the seller is the Khodabash Family. Lev Mavashev and Ben Normatov, from Alpha Realty, represented both parties involved in the deal.
Players
Market 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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93