Camber Property Group Acquires Multifamily Portfolio In Jersey City For $21.5M
SOLD
$21,500,000
New Jersey
See Similar DealsMultiFamily4,038 SF
Sold 11/03/2020
SOLD
Camber Property Group Acquires Multifamily Portfolio In Jersey City For $21.5M
21 Monticello Avenue, Jersey City, NJ, USA
See Similar DealsMultiFamily4,038 SF
Sold 11/03/2020
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$5,324
Total Square Footage:4,038 SF
Transaction Type:Sale
21, 25, 27, 31 & 33 Monticello Avenue, 4 & 8 Madison Avenue, 834 & 838 Grand Street in Jersey City have been sold in a multifamily property transaction. The sale took place on November 3, 2020, with a total price of $21,500,000. The property consists of 74 units, resulting in a per unit price of $290,540.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $21,500,000
- Units: 74
- Price per Unit: $290,540
Camber Property Group, represented by Rick Gropper and Andrew Moelis, acted as the buyer in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,146,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$76,384.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$101,920.97
Annual Debt Service$1,223,051.63
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