Kiran Kaur Acquires Development Site In Jersey City From Sanjay Chena For $6.25M
SOLD
$6,250,000
New Jersey
See Similar DealsDevelopment Site11,000 SF
Sold 09/05/2025
SOLD
Kiran Kaur Acquires Development Site In Jersey City From Sanjay Chena For $6.25M
3041 John F Kennedy Boulevard
See Similar DealsDevelopment Site11,000 SF
Sold 09/05/2025
Summary
NEW JERSEY
Asset Type:Development Site
Price Per Square Foot:$568
Total Square Footage:11,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$333,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,204.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,628.19
Annual Debt Service$355,538.26
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