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83 Morris St Jersey City, N...

Unit Opus Acquires Development Site In Jersey City For $4M
SOLDDevelopment Site

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

Jason Trembicki

Broker

$60.1M

vol

10 deals

Broker

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