Unit Opus Acquires Development Site In Jersey City For $4M
83 Morris St Jersey City, Nj 07302, Usa
$4,000,000
$533/SF
Building Size
7,500 SF
Asset Type
Development Site
Closing
Jun 14, 2023
AI
A development site located at 83-89 Morris Street in Jersey City has been sold for $4,000,000. The property spans 7,500 square feet, resulting in a price per square foot of $533. The transaction took place on 06/14/2023.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $4,000,000
- Address: 83-89 Morris Street, Jersey City
- Market: Jersey City
- Buyer: Unit Opus - David Popkin
- Seller: KAJN - Jennifer Broy
- Buyer's Representative: Jason Trembicki & David Bistany - KW Commercial
- Seller's Representative: Allen Walton - Keller Williams
- Square Footage: 7,500
- Price per Square Foot: $533
The buyer, Unit Opus, was represented by Jason Trembicki and David Bistany from KW Commercial, while the seller, KAJN, was represented by Allen Walton from Keller Williams.
Players
New Jersey 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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93