404 Stegman LLC Acquires Multifamily Property In Jersey City For $2.275M
404 Stegman Parkway, Jersey City, New Jersey 07305, United States
$2,275,000
$189/SF
Building Size
12,000 SF
Asset Type
MultiFamily
Closing
May 1, 2022
AI
The multifamily property located at 404 Stegman Pkwy in Jersey City has been sold for a price of $2,275,000. The transaction took place on 05/02/2022. The property spans across 12,000 square feet, resulting in a price per square foot of $190. The buyer of the property is 404 Stegman LLC, while the seller is Edo Molina. The deal was facilitated by broker Jonathan Zamora from Marcus & Millichap.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $2,275,000
- Square Footage: 12,000
- Price Per Square Foot: $190
- Buyer: 404 Stegman LLC
- Seller: Edo Molina
- Broker: Jonathan Zamora - Marcus & Millichap
To explore more multifamily deals similar to this one, interested parties can reach out to Jonathan Zamora at [email protected].
Jersey City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.97%
Cash-on-Cash
-1.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93