61 Newkirk Management Sells Multifamily Property In Jersey City, NJ For $979,000
SOLD
$979,000
New Jersey
See Similar DealsMultiFamily4,000 SF
Sold 09/30/2022
SOLD
61 Newkirk Management Sells Multifamily Property In Jersey City, NJ For $979,000
43 Belmont Avenue
See Similar DealsMultiFamily4,000 SF
Sold 09/30/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$244
Total Square Footage:4,000 SF
Transaction Type:Sale
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].
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$52,213.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,478.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,640.96
Annual Debt Service$55,691.51
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