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224 3rd Street

Updated Dec 4, 2024

Multifamily Property In Jersey City Sold For $1.23M With Geza Gulas - Prominent Properties Sotheby's Int'l Realty
SOLDMultiFamily

Multifamily Property In Jersey City Sold For $1.23M With Geza Gulas - Prominent Properties Sotheby's Int'l Realty

224 3rd Street

$1,230,000

Building Size

Asset Type

MultiFamily

Closing

Jan 24, 2024

About this deal

AI

224 3rd Street, a multifamily property located in Jersey City, was recently sold for a total of $1,230,000. The property, situated in the bustling Jersey City market, offers a prime investment opportunity for buyers looking to venture into the multifamily sector. The transaction, facilitated by Geza Gulas of Prominent Properties Sotheby's International Realty, showcases the continued growth and demand for multifamily properties in the area.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,230,000
  • Address: 224 3rd Street
  • Market: Jersey City

Geza Gulas, a reputable broker from Prominent Properties Sotheby's International Realty, played a crucial role in the successful sale of 224 3rd Street. Known for their expertise and extensive network, Geza Gulas assisted both the buyer and seller in navigating the complexities of the transaction, ensuring a seamless experience for all parties involved.

Players

Geza Gulas

Sotheby's International Realty

Broker

$5M

vol

4 deals

Broker

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

12.90%

Cash-on-Cash

-3.69%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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