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31 Van Wagenen Avenue

31 Van Wagenen Avenue Multifamily Sold For $1.4M With Brokers Chris Vitiello & Gregory Edgell
SOLDMultiFamily

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

12,900 SF

Asset Type

MultiFamily

Closing

Aug 22, 2024

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.

Players

Gregory Edgell

Grid Real Estate

Broker

$26.7M

vol

15 deals

Broker

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