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299 Pavonia Ave, Downtown J...

Hamilton Park Condo In Downtown Jersey City Sells For $2.075M With Buyer's Rep Jill Biggs And Seller's Rep Kevin Cavanaugh
SOLD

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

Jill Biggs

Coldwell Banker

Broker

$51.2M

vol

29 deals

Broker

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