Updated Dec 20, 2023
Armagno Agency Inc Acquires Multifamily Property In Jersey City For $1.25M
255 West 5th Street, Plainfield, NJ 07060, USA
$1,250,000
$1,041/SF
Building Size
1,200 SF
Asset Type
MultiFamily
Closing
Mar 24, 2021
About this deal
AI
The multifamily property located at 255 5th St in Jersey City has been sold. The sale was facilitated by brokers Philip Rivo and Oksana Yaremchuk from Armagno Agency Inc. The transaction took place on March 25, 2021, with a selling price of $1,250,000. The property consists of two units, resulting in a price per unit of $625,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,250,000
- Address: 255 5th St, Jersey City
- Market: Jersey City
- Brokers: Philip Rivo & Oksana Yaremchuk - Armagno Agency Inc
- Units: 2
- Price per Unit: $625,000
This sale represents a successful transaction in the multifamily market in Jersey City. Philip Rivo and Oksana Yaremchuk, representing Armagno Agency Inc, played a crucial role in facilitating the deal. The sale price of $1,250,000 reflects the value and potential of the property. With a total of two units, each priced at $625,000, this transaction demonstrates the demand for multifamily properties in Jersey City.
On the Map
$1,250,000
$1,041/SF
MultiFamily
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Players
Plainfield 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
12.69%
Cash-on-Cash
-3.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93