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631 Jersey Avenue, Jersey C...

Edward Verdel Acquires Multifamily Property On 631 Jersey Ave, Jersey City For $2.35M
SOLDMultiFamily

Edward Verdel Acquires Multifamily Property On 631 Jersey Ave, Jersey City For $2.35M

631 Jersey Avenue, Jersey City, New Jersey 07302, United States

$2,350,000

Building Size

Asset Type

MultiFamily

Closing

Aug 24, 2022

AI

631 Jersey Ave, located in Jersey City, was recently sold for $2,350,000. The transaction took place on August 25, 2022. This property is a multifamily asset, making it an attractive investment opportunity in the market.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,350,000
  • Address: 631 Jersey Ave
  • Market: Jersey City

The buyer's representative in this transaction was Edward Verdel from Compass, while the seller's representative was Patrick Southern from Coldwell Banker Realty. Their expertise helped facilitate a successful deal for all parties involved.

Players

Ed Verdel

Compass

Broker

$9.3M

vol

5 deals

Broker

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

6.75%

Cash-on-Cash

-1.93%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93