Prime Real Estate Group Acquires Multifamily Property In Jersey City Heights For $1.02M
59 Reservoir Avenue, Jersey City, NJ 07307, USA
$1,020,000
$291/SF
Building Size
3,500 SF
Asset Type
MultiFamily
Closing
Dec 6, 2021
AI
The multifamily property located at 59 Reservoir Ave in Jersey City Heights has been sold in a recent transaction. The property, considered to be historic, features a lot size of 50 X 100. The transaction took place on 12/06/2021, with a sale price of $1,020,000. The property spans across 3,500 square feet, resulting in a price per square foot of $291.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,020,000
- Address: 59 Reservoir Ave
- Market: Jersey City Heights
The buyer was represented by Lindsay Wiener from Prime Real Estate Group, while the seller was represented by Christian Bastidas from West Hoboken Residential.
Players
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
15.55%
Cash-on-Cash
-4.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93