Updated Oct 29, 2024
Route 440 Owner, LLC Acquires Jersey City Development Site For $25.5M
58 Water Street, Jersey City, NJ, USA
$25,500,000
Building Size
—
Asset Type
Development Site
Closing
Feb 28, 2021
About this deal
AI
A development site located at 58 Water Street, 39 Mallory Avenue, and 244 Culver Avenue in Jersey City has been sold for $25,500,000. The property was purchased by Route 440 Owner, LLC from the seller, Alpha Assembly Solutions Inc. The deal was facilitated by brokers Charles Berger, Elli Klapper, Mark Silverman, Thomas Mallaney, Bill Waxman, and Kevin Dudley of CBRE.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $25,500,000
- Address: 58 Water Street, 39 Mallory Avenue, and 244 Culver Avenue
- Market: Jersey City
The transaction involved the sale of a development site in Jersey City. Route 440 Owner, LLC acquired the property from Alpha Assembly Solutions Inc. The sale was facilitated by Charles Berger, Elli Klapper, Mark Silverman, Thomas Mallaney, Bill Waxman, and Kevin Dudley of CBRE.
On the Map
$25,500,000
Development Site
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Players
Jersey City Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93