Updated Dec 4, 2024
Michael Rizzo & Joan Joni Vicente Facilitate $2M Multifamily Sale In Jersey City
131 Hopkins Avenue
$2,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Mar 1, 2024
About this deal
AI
A multifamily property located at 131 Hopkins Avenue in Jersey City was recently sold for $2,000,000. The transaction was handled by Michael Rizzo from Group Twenty Six, representing the buyer, and Joan Vicente from Coldwell Banker, representing the seller.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,000,000
- Address: 131 Hopkins Avenue
- Market: Jersey City
- Buyer's Representative: Michael Rizzo - Group Twenty Six
- Seller's Representative: Joan "Joni" Vicente - Coldwell Banker
The deal involved Michael Rizzo from Group Twenty Six as the buyer's representative and Joan Vicente from Coldwell Banker as the seller's representative, facilitating the sale of the multifamily property at 131 Hopkins Avenue.
Players
Jersey City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93