Jacob Spitzer Purchases Multifamily Property At 642 Avenue C Bayonne For $1.62M
SOLD
$1,620,000
New Jersey
See Similar DealsMultiFamily6,750 SF
Sold 01/09/2026
SOLD
Jacob Spitzer Purchases Multifamily Property At 642 Avenue C Bayonne For $1.62M
642 Avenue C
See Similar DealsMultiFamily6,750 SF
Sold 01/09/2026
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$240
Total Square Footage:6,750 SF
Transaction Type:Sale
The property asset involved in the transaction is a multifamily unit located at 642 Avenue C in Bayonne. The sale was completed at a price of $1,620,000 for a total of 8 units, equating to a price per unit of $202,500. The total square footage of the property is 6,750.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,620,000
- Units: 8
- Price Per Unit: $202,500
- Square Footage: 6,750
- Buyer: Jacob Spitzer
- Broker: David Ferber - Matthews
- Date of Sale: 01/09/2026
- Market: Bayonne
The buyer of the property is Jacob Spitzer, with David Ferber from Matthews acting as the broker representing the transaction. The involvement of these individuals highlights the professional connections pivotal to the completion of this sale in the multifamily real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$86,400.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,755.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,679.63
Annual Debt Service$92,155.52
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