Updated Jun 4, 2025
Davis Briones Of Kislak Represents Sale Of Jersey City Multifamily For $20M
70 Central Avenue
$20,000,000
$800/SF
Building Size
25,000 SF
Asset Type
MultiFamily
Closing
May 13, 2025
About this deal
AI
The property asset involved in this transaction is a multifamily building located at 70 Central Avenue in Jersey City. The sale was completed for a total transaction amount of $20,000,000, comprising 32 units, resulting in a price per unit of $625,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $20,000,000
- Units: 32
- Price Per Unit: $625,000
- Broker: Davis Briones - Kislak
- Transaction Date: 5/14/2025
The key individual involved in this transaction is Davis Briones, who represented the deal on behalf of Kislak. This transaction highlights the ongoing activity in the multifamily market in Jersey City.
On the Map
$20,000,000
$800/SF
MultiFamily
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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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93