Lincoln Rivers Acquires Jersey City Multifamily For $1,374,900

The recently closed property transaction in Jersey City involves a multifamily asset located at 451 Jersey Avenue. The property, consisting of four units, was sold on December 7, 2020. The buyer of this property is Lincoln Rivers, while the seller is Henry Grullon. The transaction was facilitated by Daniel Spitz, a broker representing the parties involved. The asking price for the property was $1,374,900, and the final sale price matched the asking price. With four units, the price per unit for this multifamily property is calculated to be $343,725.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,374,900
• Address: 451 Jersey Avenue
• Market: Jersey City
• Buyer: Lincoln Rivers
• Seller: Henry Grullon
• Broker: Daniel Spitz
• Units: 4
• Price Per Unit: $343,725

This transaction showcases the successful collaboration between Lincoln Rivers as the buyer and Henry Grullon as the seller of the multifamily property on 451 Jersey Avenue. Daniel Spitz, representing both parties, was the broker who assisted in the deal. The property's attractive price per unit of $343,725 adds to its appeal in the market. This transaction marks a significant achievement in the Jersey City real estate market.