Updated Oct 28, 2024
Point Capital Development Acquires Multifamily Property In Jersey City For $13M
104 Bright Street, Jersey City, NJ 07302
$13,000,000
$342/SF
Building Size
38,000 SF
Asset Type
MultiFamily
Closing
Aug 24, 2020
About this deal
AI
104 Bright St in Jersey City, NJ has been involved in a recent closed property transaction. The asset type is a multifamily property consisting of 40 units. The transaction took place on 08/24/2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $13,000,000
- Address: 104 Bright St, Jersey City, NJ
- Market: Jersey City, NJ
The buyer in this transaction is Point Capital Development, LLC. They were represented by Matthew Pizzolato from JLL Capital Markets. The loan amount secured for this deal is $13,000,000 with a 10-year fixed-rate loan. The property consists of a total of 40 units.
Note: No additional information was provided regarding the property transaction.
Players
Jersey City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93