Updated Oct 28, 2024
373 Danforth LLC Acquires Multifamily Property In Jersey City For $6.25M
373-377 Danforth Ave, Jersey City, NJ, USA
$6,250,000
$625/SF
Building Size
10,000 SF
Asset Type
MultiFamily
Closing
Oct 15, 2021
About this deal
AI
The multifamily property located at 373-377 Danforth Ave in Jersey City, NJ was recently sold. The sale was completed on October 15, 2021. The property, which spans 10,000 square feet, consists of 26 units. The sale price for the property was $6,250,000, resulting in a price per unit of $240,385. The price per square foot was $625.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,250,000
- Units: 26
- Price per Unit: $240,385
- Square Footage: 10,000
- Price per Square Foot: $625
- Market: Jersey City, NJ
The buyer of the property was 373 Danforth LLC, while the seller was 22 Fleet LLC. The deal was facilitated by Minni Chalana from The Chalana Group, acting as the broker for both the buyer and seller.
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
2.54%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93