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
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.
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