Mack-Cali Realty Corporation Acquires Property At 273 16th St Jersey City For $263.8M With Seller's Rep Kevin O'Hearn JLL
SOLD
$263,800,000
New Jersey
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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
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NEW JERSEY
Transaction Type:Sale
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
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$14,069,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$937,225.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,250,546.58
Annual Debt Service$15,006,559.01
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