Suri Reddy Acquires Development Site In Jersey City From Frank Peraza For $2.45M

The property asset involved in the transaction is a development site located at 136 Delaware Avenue in Jersey City. The sale price of the property was $2,450,000, with a building square footage (BSF) of 48,722, resulting in a price per building square foot (PPBSF) of $50. The total square footage (SF) stands at 20,321, translating to a price per square foot (PPSF) of $120.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $2,450,000
• Buyer: Suri Reddy
• Seller: Frank Peraza
• Broker: Yanni Marmarou - Investment Property Realty Group (IPRG)

This deal highlights the involvement of key individuals, including buyer Suri Reddy and seller Frank Peraza, alongside broker Yanni Marmarou who facilitated the transaction through Investment Property Realty Group (IPRG). Each party played a crucial role in concluding the sale of the property located in the Jersey City market.