Updated Sep 5, 2024
Carter Martin Acquires Ridgewood Multifamily For $3.05M
19-24 Grove Street
$3,050,000
$589/SF
Building Size
5,175 SF
Asset Type
MultiFamily
Closing
May 10, 2023
About this deal
AI
A multifamily property located at 19-24 Grove Street in Ridgewood has been sold for a price of $3,050,000. The property consists of 6 units, with a price per unit of $508,333. The total square footage of the property is 5,175, resulting in a price per square foot of $589.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $3,050,000
- Units: 6
- Price Per Unit (PPU): $508,333
- Square Footage (SF): 5,175
- Price Per Square Foot (PPSF): $589
Carter Martin has been identified as the buyer of the property, while Joseph Kaufman is the seller. The deal was facilitated by Derek Bestreich, Luke Sproviero, Steve Reynolds, Tom Reynolds, and Brian Davila from Investment Property Realty Group (IPRG).
On the Map
$3,050,000
$589/SF
MultiFamily
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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
5.20%
Cash-on-Cash
-1.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93