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43 Belmont Avenue

61 Newkirk Management Sells Multifamily Property In Jersey City, NJ For $979,000
SOLDMultiFamily

61 Newkirk Management Sells Multifamily Property In Jersey City, NJ For $979,000

43 Belmont Avenue

$979,000

$244/SF

Building Size

4,000 SF

Asset Type

MultiFamily

Closing

Sep 30, 2022

AI

A multifamily property located at 43 Belmont Avenue in Jersey City, NJ has been sold. The property consists of 2 units with a total of 4,000 square feet. The sale price for this transaction was $979,000, resulting in a price per unit of $489,500. The price per square foot is $245. The seller of the property was 61 Newkirk Management.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $979,000
  • Address: 43 Belmont Avenue, Jersey City, NJ
  • Units: 2
  • Price per Unit: $489,500
  • Square Footage: 4,000
  • Price per Square Foot: $245
  • Seller: 61 Newkirk Management

Francine Lauri from Corcoran Sawyer Smith represented the buyer in this transaction. Christian Bastidas and Steven Caraccio from West Hoboken Residential served as the seller's representatives.

For off-market deals, inquiries can be directed to [email protected].

Players

Christian Bastidas

West Hoboken Residential

Broker

$10.1M

vol

10 deals

Broker

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

16.20%

Cash-on-Cash

-4.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93