Gerard Mattera Jr. Acquires Multifamily Property In Jersey City For $1.3M
287 North 5th Street, Newark, NJ, USA
$1,315,000
$298/SF
Building Size
4,400 SF
Asset Type
MultiFamily
Closing
Oct 21, 2021
AI
Located in Jersey City's market, a multifamily property at 287 5th St has been sold. The transaction took place on October 21, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,315,000
- Units: 2
- Price Per Unit (PPU): $657,500
The buyer, represented by Gerard Mattera Jr. from Keller Williams City Life Realty, acquired the property. On the other hand, the seller, Colleen Kerrigan and Daniel Lupoli from Redfin Corp, represented the seller's side.
This transaction showcases the active real estate market in Jersey City and the involvement of key professionals for a successful deal.
Players
Newark 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
12.06%
Cash-on-Cash
-3.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93