Updated Dec 19, 2023
Prominent Properties Sothebys Acquires Multifamily In Jersey City For $1.16M
240.5 South St, Jersey City, NJ 07307
$1,160,000
$618/SF
Building Size
1,875 SF
Asset Type
MultiFamily
Closing
Dec 22, 2021
About this deal
AI
The multifamily property located at 240.5 South St in Jersey City has been sold for a price of $1,160,000. The property consists of 4 units, with a price per unit (PPU) of $290,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,160,000
- Address: 240.5 South St
- Market: Jersey City
The buyer was represented by Megha Moza from Prominent Properties Sothebys International Realty, while Robert Harris from CHRISTIE'S International Real Estate Northern New Jersey acted as the seller's representative.
The multifamily sale at 240.5 South St, Jersey City, NJ 07307 in Jersey City, New Jersey sold for $1.2M in 2021. Reported inventory is 1,875 square feet across 4 units, or about 618 per square foot. Megha Moza, Robert Harris, Christie's International Real Estate, Sotheby's International Realty appear on the sale alongside Christie's International Real Estate, Sotheby's International Realty. This page is the Jersey City, New Jersey file for the 240.5 South St, Jersey City, NJ 07307 multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Jersey City sit in the Market section below. Filter that Jersey City multifamily set by closing date to see what else sold near 240.5 South St, Jersey City, NJ 07307 around 2021. Published consideration for 240.5 South St, Jersey City, NJ 07307 is $1.2M, dated 2021. Cite this Prominent Properties Sothebys Acquires Multifamily In Jersey City For $1.16M sale when underwriting similar multifamily product around Jersey City, New Jersey.
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