Updated Oct 28, 2024
ASB Real Estate Investments & Cohen Asset Management Acquire Industrial Property In Jersey City For $21.7M
111 Thomas McGovern Drive, Jersey City, NJ 07305, USA
$21,700,000
$330/SF
Building Size
65,715 SF
Asset Type
Industrial
Closing
Sep 30, 2021
About this deal
AI
An industrial property located at 111 Thomas McGovern Drive in Jersey City, NJ has been sold for a total of $21,700,000. The property spans over 3.4 acres and offers 65,715 square feet of space. The sale price per square foot was $330.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $21,700,000
- Address: 111 Thomas McGovern Drive, Jersey City, NJ
- Market: Jersey City, NJ
- Acres: 3.4
The buyer of the property is ASB Real Estate Investments & Cohen Asset Management, while the seller is Clearwater Lane LLC.
This deal was facilitated by Robert Bellinger from an undisclosed agency, representing the buyer and seller in the transaction.
Players
Jersey City Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.73%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93