Suri Reddy Acquires Development Site In Jersey City From Frank Peraza For $2.45M
SOLD
$2,450,000
New Jersey
See Similar DealsDevelopment Site20,321 SF
Sold 10/17/2025
SOLD
Suri Reddy Acquires Development Site In Jersey City From Frank Peraza For $2.45M
136 Delaware Avenue
See Similar DealsDevelopment Site20,321 SF
Sold 10/17/2025
Summary
NEW JERSEY
Asset Type:Development Site
Price Per Square Foot:$120
Total Square Footage:20,321 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$130,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,704.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,614.25
Annual Debt Service$139,371.00
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