Chris Vitiello Of Grid Real Estate Facilitates $2.77M Sale Of Mixed-Use Portfolio In Jersey City
SOLD
$2,770,000
New Jersey
See Similar DealsMixed-use9,500 SF
Sold 07/23/2025
SOLD
Chris Vitiello Of Grid Real Estate Facilitates $2.77M Sale Of Mixed-Use Portfolio In Jersey City
John F Kennedy Boulevard
See Similar DealsMixed-use9,500 SF
Sold 07/23/2025
Summary
NEW JERSEY
Asset Type:Mixed-use
Price Per Square Foot:$291
Total Square Footage:9,500 SF
Transaction Type:Sale
A mixed-use property portfolio located at 1664, 1668, and 1670 John F Kennedy Boulevard in Jersey City has been sold. The total sale price for the portfolio is $2,770,000, and it encompasses a total square footage of 9,500, translating to a price per square foot of $291.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,770,000
- Sale Date: 07/23/2025
- Broker: Chris Vitiello - Grid Real Estate
- Market: Jersey City
- Total Square Footage: 9,500
- Price Per Square Foot: $291
This transaction represents a collaboration involving Chris Vitiello of Grid Real Estate, who acted as the broker in facilitating the sale of the three-property portfolio.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$147,733.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,841.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,131.21
Annual Debt Service$157,574.56
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