Updated Oct 29, 2024
29 Van Reipen LLC Acquires Multifamily Property In Jersey City For $4.4M
25 Van Reipen Avenue, Jersey City, NJ, USA
$4,400,000
$2,937/SF
Building Size
1,498 SF
Asset Type
MultiFamily
Closing
Jan 12, 2021
About this deal
AI
A multifamily property located at 25 Van Reipen Avenue in Jersey City has been sold for $4,400,000. The transaction, which took place on January 13, 2021, involved a total of 31 units, resulting in a price per unit of $141,935.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,400,000
- Address: 25 Van Reipen Avenue, Jersey City
- Market: Jersey City
The buyer, identified as 29 Van Reipen LLC, acquired the property from 25 Van Reipen Inc. Representing the buyer in this transaction were Charles Berger, Elli Klapper, and Mark Silverman from CBRE.
Note: No additional information was available regarding the property's features or the motivations behind the sale.
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
3.61%
Cash-on-Cash
-1.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93