Updated Dec 4, 2024
Francis Thurman Of ERealty Advisors Represents Buyer In $1.1 Million Jersey City Multifamily Sale
78 Armstrong Avenue
$1,097,250
Units
2
Asset Type
MultiFamily
Closing
Oct 15, 2024
About this deal
AI
A multifamily property located at 78 Armstrong Avenue in Jersey City was sold for $1,097,250. The asset consists of two units, with a price per unit of $548,625. Each unit is equipped with modern amenities, and Unit 1 features a backyard and garage, while Unit 2 has a private rooftop setup.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,097,250
- Units: 2
- Buyer’s Representative: Francis Thurman - eRealty Advisors
- Seller’s Representative: Joachim Horvitz - Compass
Francis Thurman of eRealty Advisors represented the buyer in this transaction, while Joachim Horvitz of Compass represented the seller. The transaction reflects the collaboration between these two brokers in facilitating the sale of the property.
On the Map
$1,097,250
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
14.46%
Cash-on-Cash
-4.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93