Updated Oct 29, 2024
3 Journal Square Urban Renewal LLC Refinances Multifamily Property In Jersey City For $58M
2955 John F. Kennedy Blvd
$58,000,000
Units
240
Asset Type
MultiFamily
Closing
Mar 16, 2023
About this deal
AI
A multifamily property located at 2955 John F. Kennedy Blvd in Jersey City has recently undergone a refinancing transaction. The property consists of 240 units and is owned by 3 Journal Square Urban Renewal LLC.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $58,000,000
- Date: 03/16/2023
- Address: 2955 John F. Kennedy Blvd
- Market: Jersey City
- Units: 240
The refinancing of this multifamily property was facilitated by JLL Capital Markets, with Thomas Didio, Thomas E. Didio Jr., Gerard Quinn, and John Cumming acting as brokers in the deal.
On the Map
$58,000,000
MultiFamily
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Jersey City MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93