Premier Brokers Real Estate Acquires Multifamily Property In Jersey City For $1.27M
SOLD
$1,270,000
New Jersey
See Similar DealsMultiFamily2,500 SF
Sold 04/16/2021
SOLD
Premier Brokers Real Estate Acquires Multifamily Property In Jersey City For $1.27M
20 Bleecker St, Jersey City, NJ, USA
See Similar DealsMultiFamily2,500 SF
Sold 04/16/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$508
Total Square Footage:2,500 SF
Transaction Type:Sale
Located at 20 Bleecker St in Jersey City, this recently closed multifamily property offers an exciting investment opportunity. The property comprises 2 units, with each unit priced at approximately $635,000. The total sale price for the property was $1,270,000, indicating a successful transaction.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $1,270,000
Representing the buyer in this deal, Michael Dibi of Premier Brokers Real Estate LLC played a crucial role in ensuring a smooth transaction. On the other side, Marcus Pinto from Compass New Jersey, LLC acted as the seller's representative, showcasing their commitment to providing exceptional service in the real estate industry.
This successful transaction showcases the expertise of Michael Dibi and Marcus Pinto, who played pivotal roles in facilitating the sale of this multifamily property. Their expertise and knowledge of the Jersey City market were instrumental in achieving a favorable outcome for both the buyer and the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$67,733.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,512.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,020.45
Annual Debt Service$72,245.38
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