Pearl On The Hudson Acquires Development Site In Jersey City For $1.28M
SOLD
$1,282,500
New Jersey
See Similar DealsDevelopment Site19,546 SF
Sold 01/26/2022
SOLD
Pearl On The Hudson Acquires Development Site In Jersey City For $1.28M
714 Grand Street, Jersey City, New Jersey 07304, United States
See Similar DealsDevelopment Site19,546 SF
Sold 01/26/2022
Summary
NEW JERSEY
Asset Type:Development Site
Price Per Square Foot:$65
Total Square Footage:19,546 SF
Transaction Type:Sale
Pearl on the Hudson LLC has acquired a development site located at 714 Grand St in Jersey City, NJ. The property was sold by Zenith Grand Apartments LLC for a sale price of $1,282,500. The development site has a building square footage (BSF) of 19,546 and a price per building square footage (PPBSF) of $66.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,282,500
- Buyer: Pearl on the Hudson LLC
- Seller: Zenith Grand Apartments LLC
- Address: 714 Grand St, Jersey City, NJ
- Market: Jersey City, NJ
- BROKERS: Jerry Joseph & Tarang Ramani - Lee & Associates
Jerry Joseph & Tarang Ramani from Lee & Associates represented both the buyer and seller in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$68,400.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,556.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,079.70
Annual Debt Service$72,956.45
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