Franciacorta Properties Acquires Mixed-Use Property In Bayonne, NJ For $1.75M

295 Broadway, a mixed-use property located in Bayonne, NJ, was recently sold in a closed transaction. The sale took place on June 15, 2021, and was facilitated by Tom Misuraca from an undisclosed agency. The property was listed with an asking price of $1,740,000 and sold for $1,750,000, resulting in a 5% capitalization rate. The property consists of 5 units, with a per unit price of $350,000.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $1,750,000
• Address: 295 Broadway, Bayonne, NJ
• Market: Bayonne, NJ
• Units: 5
• Price per Unit: $350,000
• Asking Price: $1,740,000
• Capitalization Rate: 5%

The buyer, Franciacorta Properties, acquired the property from First Developers in this transaction. Tom Misuraca, representing an undisclosed agency, served as the broker in the deal. These key individuals and companies played a significant role in the successful completion of the transaction.