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
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