Pearl On The Hudson Acquires Development Site In Jersey City For $1.28M
714 Grand Street, Jersey City, New Jersey 07304, United States
$1,282,500
$65/SF
Building Size
19,546 SF
Asset Type
Development Site
Closing
Jan 25, 2022
AI
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.
Players
Jersey City Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
12.37%
Cash-on-Cash
-3.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93