Song Zhang Of Alpha Metro Realty Represents Buyer In $1.16M Multifamily Sale In Jersey City
222 Christopher Columbus Drive
$1,160,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 6, 2024
AI
The multifamily property located at 222 Christopher Columbus Drive in Jersey City features 5 bedrooms, 2.5 baths, and 2 parking spaces. The property sold for $1,160,000, reflecting a price per unit of $580,000. This 2-family townhome presents potential for customization and investment, situated in a prime downtown location.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,160,000
- Units: 2
- Price Per Unit: $580,000
- Address: 222 Christopher Columbus Drive
- Market: Jersey City
- Buyer's Representative: Song Zhang - Alpha Metro Realty
- Seller's Representative: Samuel Lin - Coldwell Banker
Song Zhang from Alpha Metro Realty represented the buyer, providing insights into the market that facilitated this transaction. Samuel Lin of Coldwell Banker represented the seller, playing a crucial role in highlighting the value of the property during the sales process.
Players
Jersey City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
13.68%
Cash-on-Cash
-3.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93