Michele Miltzer Acquires Multifamily Property In Ridgewood For $1.6M With Broker Daniel Barcelowsky
59 45 Palmetto Street
$1,600,000
$673/SF
Building Size
2,376 SF
Asset Type
MultiFamily
Closing
Jul 1, 2025
AI
The property involved in this transaction is a multi-family asset located at 59-45 Palmetto Street in Ridgewood. The sale concluded at a price of $1,600,000, encompassing a total of 2 units and offering a square footage of 2,376. The price per unit amounts to $800,000, while the price per square foot is calculated at $673.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $1,600,000
- Units: 2
- Price Per Unit: $800,000
- Square Footage: 2,376
- Price Per Square Foot: $673
- Buyer: Michele Miltzer
- Seller: Steven Bandora
- Buyer's Representative: Daniel Barcelowsky - Evergreen Realty & Investments
Daniel Barcelowsky from Evergreen Realty & Investments represented the buyer, Michele Miltzer, in this transaction, while Steven Bandora served as the seller of the property. This transaction reflects the professional involvement of the brokerage in facilitating the sale.
Players
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
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93