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595 New Jersey Avenue, Bric...

Isaac Sebbag Of Golden Sky Equities Acquires Multifamily Property On Jersey Ave For $1.5M
SOLDMultiFamily

Isaac Sebbag Of Golden Sky Equities Acquires Multifamily Property On Jersey Ave For $1.5M

595 New Jersey Avenue, Brick, NJ 08724, USA

$1,500,000

$187/SF

Building Size

8,002 SF

Asset Type

MultiFamily

Closing

Sep 1, 2021

AI

The multifamily property located at 595 Jersey Ave in Downtown, Jersey City, NJ has been sold for $1,500,000. The sale, which took place on 09/01/2021, involved four condominium units, totaling 3,500 square feet. Each unit has an average price of $375,000, while the price per square foot is $429. The buyer of the property is Isaac Sebbag, represented by Golden Sky Equities. The transaction was facilitated by broker Patrick Southern. The developer plans to renovate and resell the condo units.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,500,000
  • Address: 595 Jersey Ave, Downtown, Jersey City, NJ
  • Date: 09/01/2021
  • Units: 4
  • Price per Unit: $375,000
  • Square Feet: 3,500
  • Price per Square Foot: $429

Isaac Sebbag, representing Golden Sky Equities, acquired the property located at 595 Jersey Ave. The deal was facilitated by broker Patrick Southern.

Players

Patrick Southern

Coldwell Banker

Broker

$38.1M

vol

19 deals

Broker
Isaac Sebbag

Isaac Sebbag

Golden Sky Equities

Buyer

$29.7M

vol

8 deals

Buyer

Brick 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

10.58%

Cash-on-Cash

-3.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93