Vivek Bhandari Buys Multifamily Property In Jersey City For $1.2M
SOLD
$1,200,000
New Jersey
See Similar DealsMultiFamily3,500 SF
Sold 04/24/2024
SOLD
Vivek Bhandari Buys Multifamily Property In Jersey City For $1.2M
137 Manhattan Avenue
See Similar DealsMultiFamily3,500 SF
Sold 04/24/2024
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$342
Total Square Footage:3,500 SF
Transaction Type:Sale
The multifamily property located at 137 Manhattan Avenue in Jersey City was sold for $1,200,000. The asset consists of 2 units with a total square footage of 3,500. The price per unit was $600,000, and the price per square foot was $343.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,200,000
- Address: 137 Manhattan Avenue
- Market: Jersey City
The sale was facilitated by Maikol Puebla and Tatiana Ponce from Christie's International Real Estate. The buyer of the property was Vivek Bhandari, and the seller was Marcos Munoz.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$64,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,263.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,688.61
Annual Debt Service$68,263.35
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