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770 West Side Ave

Lazer Herman Acquires Mixed-use Property From Jozef Zak In Jersey City For $1.275M
SOLDMixed-use

Lazer Herman Acquires Mixed-use Property From Jozef Zak In Jersey City For $1.275M

770 West Side Ave

$1,275,000

$226/SF

Building Size

5,636 SF

Asset Type

Mixed-use

Closing

Oct 13, 2023

AI

The property involved in this transaction is a mixed-use asset located at 770 West Side Ave in Jersey City. The transaction was completed on October 13, 2023, with a total price of $1,275,000.00, encompassing a total square footage of 5,636.0.

Summary of transaction details:

This transaction marks a pivotal moment for the key participants, with Lazer Herman acquiring the property from seller Jozef Zak. The representation for this deal was provided by broker Steven Matovski from Redwood Realty Advisors, facilitating the negotiation and completion of the property transfer.

Players

Steven Matovski

Redwood Realty Advisors

Broker

$133.8M

vol

40 deals

Broker

Lazer Herman

Buyer
Buyer

Jozef Zak

Seller
Seller

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

12.44%

Cash-on-Cash

-3.56%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93