Updated Oct 28, 2024
Golden Glades Capital Management Acquires Mixed-Use Property In Jersey City For $16M
380 Communipaw Avenue, Jersey City, NJ 07304
$16,000,000
Units
40
Asset Type
Mixed-use
Closing
Jan 18, 2022
About this deal
AI
The mixed-use property located at 380 Communipaw Avenue in Jersey City has been sold for a total of $16,000,000. The transaction took place on January 18, 2022. The property comprises 40 units, with each unit having an average sale price of $400,000.
Summary of Transaction Details
- Property Type: Mixed-use
- Transaction Amount: $16,000,000
- Address: 380 Communipaw Avenue
- Market: Jersey City
The buyer in this deal is Golden Glades Capital Management, while the seller is Six Boro Holdings. Bobby Antonicello and Gregory D. Edgell from GRID Real Estate represented the buyer as their representatives. The mortgage brokers involved in the transaction were Matthew Pizzolato and Thomas E. Didio, Jr. from JLL Capital Markets.
On the Map
$16,000,000
Mixed-use
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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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93