Updated Dec 4, 2024
31 Van Wagenen Avenue Multifamily Sold For $1.4M With Brokers Chris Vitiello & Gregory Edgell
31 Van Wagenen Avenue & 31 Van Wagenen Avenue
$1,400,000
$108/SF
Building Size
6,450 SF
Asset Type
MultiFamily
Closing
Aug 22, 2024
About this deal
AI
The property involved in this transaction is a multifamily asset located at 31 Van Wagenen Avenue in Jersey City. It was listed for an asking price of $1,400,000 and sold for the same amount. The building comprises 7 units and has a total square footage of 6,450, resulting in a price per unit of $200,000 and a price per square foot of $217.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,400,000
- Units: 7
- Square Footage: 6,450
- Price Per Unit: $200,000
- Price Per Square Foot: $217
- Address: 31 Van Wagenen Avenue
- Market: Jersey City
The transaction was facilitated by brokers Chris Vitiello and Gregory Edgell from Grid Real Estate. Their expertise in the Hudson County investment market was instrumental in this deal.
On the Map
$1,400,000
$108/SF
MultiFamily
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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
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93