Hamilton Park Condo In Downtown Jersey City Sells For $2.075M With Buyer's Rep Jill Biggs And Seller's Rep Kevin Cavanaugh
299 Pavonia Ave, Downtown Jersey City, Jersey City, NJ, USA
$2,075,000
$546/SF
Building Size
3,800 SF
Asset Type
—
Closing
Jul 30, 2020
AI
The most expensive condo ever sold in the Wells Fargo Lofts and the Hamilton Park neighborhood in Downtown Jersey City was recently purchased. Located at 299 Pavonia Ave, this luxurious condo offers a spacious living space spanning 3,500 square feet. The condo features elegant finishes and high-end amenities, making it a sought-after property in the area.
Summary of Transaction Details
- Property Type: Condo
- Transaction Amount: $2,075,000
- Address: 299 Pavonia Ave, Hamilton Park - Downtown Jersey City, NJ
- Price per Square Foot: $593
- Buyer's Representative: Jill Biggs
- Seller's Representative: Kevin Cavanaugh
Jill Biggs represented the buyer in this significant real estate transaction, ensuring a smooth process and favorable terms for her client. Kevin Cavanaugh, on the other hand, represented the seller, negotiating a successful sale at a price close to the asking amount of $2,099,000.
It's worth noting that this sale set a new record for the highest-priced condo ever sold in the Wells Fargo Lofts and the Hamilton Park neighborhood. The popularity of this upscale development, coupled with its prime location in Downtown Jersey City, contributed to its high market value.
Players
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
7.64%
Cash-on-Cash
-2.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93