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Ryan Wilman & Patrick Southern Sell Multifamily Brownstone In Jersey City For $2.25M
SOLD
$2,250,000
New Jersey
See Similar DealsMultiFamily
Sold 07/12/2024
SOLD
Ryan Wilman & Patrick Southern Sell Multifamily Brownstone In Jersey City For $2.25M
244 Montgomery Street
See Similar DealsMultiFamily
Sold 07/12/2024
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
A luxurious five-bedroom two-family brownstone at 244 Montgomery Street in Jersey City sold for $2,250,000. The property features grand interiors with exposed brick, high ceilings, marble fireplaces, and two kitchens, situated between Van Vorst Park and City Hall Park with easy access to dining and transportation.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $2,250,000
- Address: 244 Montgomery Street
- Market: Jersey City
- Buyer's Rep: Ryan Wilman - Corcoran Sawyer Smith
- Seller's Rep: Patrick Southern - Coldwell Banker
The buyer's representative for this transaction was Ryan Wilman from Corcoran Sawyer Smith, while the seller's representative was Patrick Southern from Coldwell Banker.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$120,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,993.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,666.15
Annual Debt Service$127,993.77
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