Prominent Properties Sotheby's Intl Sells Multifamily Property In Jersey City For $1.4M
SOLD
$1,405,500
New Jersey
See Similar DealsMultiFamily2,258 SF
Sold 04/23/2021
SOLD
Prominent Properties Sotheby's Intl Sells Multifamily Property In Jersey City For $1.4M
237 Grove Street, Jersey City, NJ 07302
See Similar DealsMultiFamily2,258 SF
Sold 04/23/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$622
Total Square Footage:2,258 SF
Transaction Type:Sale
Located at 237 Grove Street in Jersey City, this recently sold property is a multifamily asset. The transaction took place on 04/23/2021, with Megha Moza of Prominent Properties Sotheby's International Realty acting as the broker.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,405,500
- Date: 04/23/2021
- Address: 237 Grove Street, Jersey City
The deal was facilitated by Megha Moza, representing Prominent Properties Sotheby's International Realty. With the property located in Jersey City, this transaction highlights the strong demand for multifamily assets in the area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$74,959.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,993.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,662.79
Annual Debt Service$79,953.44
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