Updated Oct 12, 2026
SOLDMultiFamily
Ellliot Posner Purchases Multifamily Property On Central Avenue In Jersey City For $1,600,000
400 Central Avenue
$1,600,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 4, 2018
About this deal
AI
The asset involved in this transaction is a MultiFamily property located at 400 Central Avenue in Jersey City, NJ. The sale was finalized on 10/04/2018 for a total price of $1,600,000.00.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $1,600,000.00
- Buyer: Elliot Posner
- Seller: Billy Melms
- Brokers: Jim Pompa
The transaction was facilitated by broker Jim Pompa, who played a crucial role in connecting the buyer, Elliot Posner, with the seller, Billy Melms, to complete the deal successfully.
On the Map
$1,600,000
MultiFamily
View full map
Players
Jersey City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Browse Jersey City multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93