Solomon Halberstam Of Capital Realty Associates Sells Jersey City Multifamily For $2.35M
SOLD
$2,350,000
New Jersey
See Similar DealsMultiFamily1,800 SF
Sold 02/02/2022
SOLD
Solomon Halberstam Of Capital Realty Associates Sells Jersey City Multifamily For $2.35M
175 Congress Street, Jersey City, New Jersey 07307, United States
See Similar DealsMultiFamily1,800 SF
Sold 02/02/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$1,305
Total Square Footage:1,800 SF
Transaction Type:Sale
The recently closed property transaction involves a multifamily asset located at 175 Congress Street and 54 Montrose Avenue in Jersey City, NJ. The property consists of 12 units, with an average price per unit of $195,833. The total sale price for this transaction was $2,350,000. The property spans approximately 1,800 square feet, with an average price per square foot of $1,306.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,350,000
- Units: 12
- Price per Unit: $195,833
- Square Footage: 1,800
- Price per Square Foot: $1,306
The transaction was facilitated by Solomon Halberstam from Capital Realty Associates. Their expertise and representation were instrumental in the successful completion of this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$125,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,349.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,140.20
Annual Debt Service$133,682.39
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