Tuli Realty Acquires Multifamily Asset From SYM Investments In Jersey City For $21.93M
SOLD
$21,925,000
New Jersey
See Similar DealsMultiFamily37,820 SF
Sold 04/23/2025
SOLD
Tuli Realty Acquires Multifamily Asset From SYM Investments In Jersey City For $21.93M
280 Fairmount Avenue
See Similar DealsMultiFamily37,820 SF
Sold 04/23/2025
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$579
Total Square Footage:37,820 SF
Transaction Type:Sale
The property asset involved in the transaction is a multifamily building located at 280 Fairmount Avenue, Jersey City, NJ. The sale price was $21,925,000, with a total square footage of 37,820, resulting in a price per square foot of $579.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $21,925,000
- Address: 280 Fairmount Avenue
- Market: Jersey City, NJ
- Square Footage: 37,820
- Price per Square Foot: $579
- Buyer: Tuli Realty
- Seller: SYM Investments
- Broker Representatives: Jonathan Brody & Michael Schattner - Base Realty Group
The transaction involves Tuli Realty as the buyer and SYM Investments as the seller, with Jonathan Brody and Michael Schattner representing the seller through Base Realty Group during the deal. Their involvement has been pivotal in facilitating this multifamily asset transaction.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,169,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$77,894.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$103,935.69
Annual Debt Service$1,247,228.23
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