Updated Sep 19, 2025
Kiran Kaur Acquires Development Site In Jersey City From Sanjay Chena For $6.25M
3041 John F Kennedy Boulevard
$6,250,000
$568/SF
Building Size
11,000 SF
Asset Type
Development Site
Closing
Sep 4, 2025
About this deal
AI
A development site located at 3041 John F Kennedy Boulevard in Jersey City has been sold for a transaction amount of $6,250,000. The property encompasses a total square footage of 11,000 and achieves a price per square foot of $568.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,250,000
- Address: 3041 John F Kennedy Boulevard
- Market: Jersey City
- Buyer: Kiran Kaur
- Seller: Sanjay Chena
- Broker: Minni Chalana - EXP Realty
The sale marks a record-breaking transaction in Journal Square, setting the highest price per door in the area. This deal precedes the sale of 42, 44 & 46 Cottage St and has generated significant attention in the market.
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
2.54%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93