David Betesh Of ICON Real Estate Advisors Represents Buyer In $1.775M Sale Of Jersey City Multifamily
61 Concord Street
$1,775,000
$186/SF
Building Size
9,500 SF
Asset Type
MultiFamily
Closing
May 27, 2026
AI
61 Concord Street is a multifamily property located in Jersey City, comprising 16 units. The asset spans 9,500 square feet and has a sale price of $1,775,000, leading to a per unit price of $110,937 and a price per square foot of $186.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,775,000
- Units: 16
- Square Footage: 9,500
- Price Per Unit: $110,937
- Price Per Square Foot: $186
- Seller: Ginny Shiu Yee Lam
- Broker: David Betesh - ICON Real Estate Advisors
- Date of Transaction: 05/27/2026
- Market: Jersey City
ICON Real Estate Advisors facilitated this estate sale transaction, marking the first sale of the property in over 35 years. David Betesh represented the buyer throughout the process, demonstrating expertise in handling multifamily property transactions in the area.
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
8.94%
Cash-on-Cash
-2.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93