Updated Sep 9, 2024
Jersey City Mixed-Use Property Sold For $5.7M With Marcus & Millichap As Brokers
236-238 Newark Avenue, Jersey City, NJ, USA
$5,700,000
$1,293/SF
Building Size
4,408 SF
Asset Type
Mixed-use
Closing
Dec 10, 2020
About this deal
AI
The mixed-use property located at 236-238 Newark Avenue in Jersey City has been sold in a recent transaction. The property consists of 17 units and was sold for a total price of $5,700,000, resulting in a per unit price of $335,294. The transaction took place on 12/11/2020.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $5,700,000
- Address: 236-238 Newark Avenue
- Market: Jersey City
The deal was facilitated by Fahri Ozturk, Richard Gatto, David Ferber, Jed Matricaria, and Daniela Corbosiero of Marcus & Millichap. They represented the parties involved in the transaction.
Players
Jersey City Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.78%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93