Compass Represents Buyer In $1.26M Multifamily Property Acquisition In Jersey City
663 Summit Avenue
$1,260,000
Building Size
—
Asset Type
MultiFamily
Closing
Jan 12, 2024
AI
In Jersey City, a multifamily property at 663 Summit Avenue was acquired for a sale price of $1,260,000. The property is located in the market of Jersey City.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,260,000
- Address: 663 Summit Avenue
- Market: Jersey City
The buyer's representative in this transaction was Marcus Pinto, who works for Compass. The seller's representative was Megan Gulick of Corcoran Sawyer Smith.
Note: The sale at 663 Summit Avenue was facilitated by Marcus Pinto from Compass, representing the buyer, and Megan Gulick from Corcoran Sawyer Smith, representing the seller. The transaction concluded with a sale price of $1,260,000.
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
12.59%
Cash-on-Cash
-3.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93