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319 Summit Avenue, Jersey C...

Davis Briones - Kislak Company Acquires Multifamily Property In Jersey City For $3.85M
SOLDMultiFamily

Davis Briones - Kislak Company Acquires Multifamily Property In Jersey City For $3.85M

319 Summit Avenue, Jersey City, New Jersey 07306, United States

$3,850,000

$154/SF

Building Size

25,000 SF

Asset Type

MultiFamily

Closing

Apr 11, 2022

AI

Located at 319 Summit Ave in Jersey City, this multifamily property recently changed hands in a sale transaction. The sale was facilitated by Davis Briones from Kislak Company, who represented the parties involved in the deal.

Summary of transation details

  • Property Type: Multifamily
  • Sale Price: $3,850,000
  • Units: 21
  • Price Per Unit: $183,333

This transaction involves a 21-unit multifamily property, with each unit having a price per unit of approximately $183,333. The deal was managed by Davis Briones from Kislak Company, who acted as the broker representing the parties involved in the sale.

Players

Davis Briones

Kislak

Broker

$44.5M

vol

6 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

4.12%

Cash-on-Cash

-1.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93