Aaron Klein Sells Multifamily Property At 953-961 Garfield Ave Jersey City For $12.65M
SOLD
$13,000,000
New Jersey
See Similar DealsMultiFamily27,443 SF
Sold 11/22/2024
SOLD
Aaron Klein Sells Multifamily Property At 953-961 Garfield Ave Jersey City For $12.65M
2 Union Street
See Similar DealsMultiFamily27,443 SF
Sold 11/22/2024
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$473
Total Square Footage:27,443 SF
Transaction Type:Sale
The property asset involved in this transaction is a multifamily building located at 953-961 Garfield Ave in Jersey City. The sale price was $12,650,000, equating to a price per unit of $361,428.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $12,650,000
- Address: 953-961 Garfield Ave
- Market: Jersey City
- Seller: Aaron Klein
- Broker: David Ferber & Jordan Anhalt - Matthews Real Estate Investment Services
The deal involved Aaron Klein as the seller, with representation provided by brokers David Ferber and Jordan Anhalt from Matthews Real Estate Investment Services. The transaction was finalized on November 22, 2024.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$693,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$46,186.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,626.63
Annual Debt Service$739,519.59
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