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244 Montgomery Street

Ryan Wilman & Patrick Southern Sell Multifamily Brownstone In Jersey City For $2.25M
SOLDMultiFamily

Ryan Wilman & Patrick Southern Sell Multifamily Brownstone In Jersey City For $2.25M

244 Montgomery Street

$2,250,000

Building Size

Asset Type

MultiFamily

Closing

Jul 12, 2024

AI

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:

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.

Players

Patrick Southern

Coldwell Banker

Broker

$38.1M

vol

19 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

7.05%

Cash-on-Cash

-2.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93