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273 16th St, Jersey City, N...

Mack-Cali Realty Corporation Acquires Property At 273 16th St Jersey City For $263.8M With Seller's Rep Kevin O'Hearn JLL
SOLD

Mack-Cali Realty Corporation Acquires Property At 273 16th St Jersey City For $263.8M With Seller's Rep Kevin O'Hearn JLL

273 16th St, Jersey City, NJ, 07310

$263,800,000

Building Size

Asset Type

Closing

Nov 20, 2023

AI

The property situated at 273 16th St, Jersey City, NJ, 07310, was sold for a total of $263,800,000. The transaction took place in the Jersey City market, and the property has a square footage of 0.

Summary of transaction details:

  • Property Type: SALE
  • Transaction Amount: $263,800,000.00
  • Address: 273 16th St, Jersey City, NJ, 07310
  • Market: Jersey City
  • Seller's Representative: Kevin O’Hearn (JLL)
  • Buyer: Mack-Cali Realty Corporation
  • Seller: Not provided
  • Square Footage: 0

Kevin O’Hearn from JLL represented the seller in this transaction, while the buyer, Mack-Cali Realty Corporation, completed the purchase. The deal reflects significant activity in the Jersey City market.

Players

Steve Simonelli

JLL

Broker

$4.9B

vol

64 deals

Broker
Mack-Cali Realty Corp
Mack-Cali Realty CorpBrokerage
Mack-Cali Realty Corp
Mack-Cali Realty CorpBuyer

Jersey City CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.06%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93