Henry Song & Michael Bozzi Jr. Sell Multifamily Property On Erie St In Jersey City For $1.55M With Buyer's Rep Henry Song & Seller's Rep Michael Bozzi Jr
SOLD
$1,550,000
New Jersey
See Similar DealsMultiFamily1,411 SF
Sold 05/07/2021
SOLD
Henry Song & Michael Bozzi Jr. Sell Multifamily Property On Erie St In Jersey City For $1.55M With Buyer's Rep Henry Song & Seller's Rep Michael Bozzi Jr
140 Erie Street, Jersey City, NJ 07302
See Similar DealsMultiFamily1,411 SF
Sold 05/07/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$1,098
Total Square Footage:1,411 SF
Transaction Type:Sale
A multifamily property located at 140 Erie St in Jersey City has been sold for a price of $1,550,000. The sale took place on May 7, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,550,000
Henry Song of Prominent Properties Sotheby's International Realty represented the buyer in this transaction, while Michael Bozzi Jr. of Keller Williams City Life Realty represented the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$82,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,506.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,347.79
Annual Debt Service$88,173.49
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