Updated Dec 4, 2024
Milanka Lippman Of Re/Max Signature Homes Represents Buyer In $1.29M Jersey City Multifamily Sale
297 5th Street
$1,290,000
Units
2
Asset Type
MultiFamily
Closing
Aug 15, 2024
About this deal
AI
A legal two-family home located at 297 5th Street in Jersey City was sold for $1.29 million. The property is currently being utilized as a single-family residence and offers modern finishes, hardwood floors, and a chef's kitchen. Outdoor amenities include a backyard oasis with a deck, and it notably features two-car parking.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,290,000
- Units: 2
- Price Per Unit: $645,000
- Buyer's Representative: Milanka Lippman - Re/Max Signature Homes
- Seller's Representative: Mark Trompeter - Serhant
- Date of Transaction: 08/15/2024
The transaction involved key representatives from the real estate industry. Milanka Lippman represented the buyer and is affiliated with Re/Max Signature Homes, while Mark Trompeter represented the seller through Serhant.
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
12.30%
Cash-on-Cash
-3.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93