Updated Feb 13, 2025
$2.2M MultiFamily Sale At 549 Mercer St, Jersey City, NJ
549 Mercer St, Jersey City, NJ, 07306
$2,200,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 22, 2023
About this deal
AI
The multi-family buildings located at 458-460 and 549-551 Mercer St. in Jersey City, NJ, were recently sold. The properties consist of 14 residential units and a ground-floor retail space. The transaction was brokered by Capital Realty Associates, with Solomon Halberstam acting as the seller's representative. The undisclosed buyer acquired the buildings for $2,200,000.00, representing a 5 percent capitalization rate.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $2,200,000.00
- Address: 549 Mercer St, Jersey City, NJ, 07306
- Market: Jersey City
Capital Realty Associates, a New Jersey-based firm, facilitated the sale of the multi-family buildings. The properties offer a mix of residential units and a retail space, making them an attractive investment opportunity. Solomon Halberstam played a key role in the transaction by representing the seller and bringing in the undisclosed buyer, showcasing his expertise in real estate deals within the Jersey City market.
On the Map
$2,200,000
MultiFamily
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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
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93