Updated Oct 29, 2024
Mack-Cali Realty Corporation Acquires Development Site In Jersey City For $53M
25 Christopher Columbus Dr, Jersey City, NJ 07302, USA
Building Size
6,000,000 SF
Asset Type
Development Site
Closing
Feb 20, 2018
About this deal
AI
The development site located at 25 Christopher Columbus Drive in New York has been sold for $53,000,000. Spanning 600,000 square feet, this property is a valuable asset in the Jersey City market.
Summary of transaction details
- Property Type: Dev Site
- Transaction Amount: $53,000,000
The seller of the property was L+M Development Partners, represented by Ron Moelis and Low-Income Housing Corporation. On the other hand, the buyer was Mack-Cali Realty Corporation, represented by Michael DeMarco.
Traded’s record for 25 Christopher Columbus Dr, Jersey City, NJ 07302, USA in Jersey City, New Jersey covers a development site sale from 2018. The building is 6,000,000 square feet, implying about 0 per square foot on the published price. This page is the Jersey City, New Jersey file for the 25 Christopher Columbus Dr, Jersey City, NJ 07302, USA development site sold: pricing, party profiles, and other closed development site comps from the same Jersey City sit in the Market section below. Filter that Jersey City development site set by closing date to see what else sold near 25 Christopher Columbus Dr, Jersey City, NJ 07302, USA around 2018. Cite this Mack-Cali Realty Corporation Acquires Development Site In Jersey City For $53M sale when underwriting similar development site product around Jersey City, New Jersey.
Players
Jersey City Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93