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404 Stegman Parkway, Jersey...

404 Stegman LLC Acquires Multifamily Property In Jersey City For $2.275M
SOLDMultiFamily

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

To explore more multifamily deals similar to this one, interested parties can reach out to Jonathan Zamora at [email protected].

Players

Jonathan Zamora

Marcus & Millichap

Broker

$76.4M

vol

24 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

6.97%

Cash-on-Cash

-1.99%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93