Updated Dec 4, 2024
Alexander Bush Of Keller Williams Represents Buyer In $1.675M Multifamily Sale In Jersey City
6 Mercer Street
$1,675,000
$478/SF
Building Size
3,500 SF
Asset Type
MultiFamily
Closing
Feb 26, 2024
About this deal
AI
The multifamily property located at 6 Mercer Street in Jersey City, NJ, was sold for $1,675,000. The property comprises 4 units with a price per unit of $418,750. Spanning 3,500 square feet, the property was sold at a price per square foot of $479.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $1,675,000
- Units: 4
- Price Per Unit: $418,750
- Square Footage: 3,500
- Price Per Square Foot: $479
- Address: 6 Mercer Street, Jersey City, NJ
- Market: Jersey City, NJ
- Seller: Curtis & Sandra Cockrell
- Buyer's Representative: Alexander Bush - Keller Williams
Alexander Bush from Keller Williams served as the buyer's representative in the transaction, showcasing his expertise in facilitating successful real estate deals. Curtis & Sandra Cockrell were the sellers of the multifamily property, entrusting the transaction to skilled real estate professionals.
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
9.47%
Cash-on-Cash
-2.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93