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Christopher Rassam & Staci Manoukian Complete $1.65M Multifamily Sale In Jersey City

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SOLD
$1,650,000

New Jersey

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MultiFamily
Sold 04/23/2024
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Property Image
SOLD

Christopher Rassam & Staci Manoukian Complete $1.65M Multifamily Sale In Jersey City

304 3rd Street

See Similar Deals
MultiFamily
Sold 04/23/2024
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Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale

304 3rd Street in Jersey City was recently sold for $1,650,000. The transaction involved a multifamily property and was facilitated by Christopher Rassam of Nest Seekers, who represented the buyer, while the seller, Staci Manoukian, was represented by Christie's International Real Estate.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,650,000
  • Address: 304 3rd Street
  • Market: Jersey City
  • Buyer's Rep: Christopher Rassam, Steven Marin - KW City Life Realty
  • Seller's Rep: Staci Manoukian - Christie's International Real Estate

Christopher Rassam from Nest Seekers and Staci Manoukian from Christie's International Real Estate played pivotal roles in the transaction as the buyer's and seller's representatives, respectively, ensuring a successful deal for the multifamily property at 304 3rd Street in Jersey City.

Players

Staci Manoukian
11 deals$20M volume
BROKER

Christopher Rassam
Nest Seekers International
1 deal$1.7M volume(201) 741-9048
BROKER

Details

SOLD
IMAGE: Christopher Rassam & Staci Manoukian DATE: 04/23/2024 ADDRESS: 304 3rd Street MARKET: Jersey City ASSET TYPE: Multifamily BUYER'S REP: Christopher Rassam (@ChrisRassamNYC), Steven Marin - KW City Life Realty SELLER'S REP: Staci Manoukian (@StaciManoukian) - Christie's International Real Estate (@ChristiesRealEstate) SALE PRICE: $1,650,000 NOTE: In Jersey City, 304 3rd Street, a multifamily asset, was sold for $1,650,000. Christopher Rassam of Nest Seekers represented the buyer, while Staci Manoukian, represented by Christie's International Real Estate, acted as the seller's representative.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$88,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,862.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,821.84
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