79-83 Oak Street Jersey City Multifamily Sold For $1.72M With Seller's Reps Daniel Shamooil & Yossi Tewel

The property involved in this transaction is located at 79-83 Oak Street, Jersey City, and is classified as a multifamily asset. The sale price was $1,720,000 with a total of 8 units across 3 buildings, resulting in a price per unit of $215,000. The total square footage of the property is 7,013, which gives a price per square foot of $245. The property was reported to have a 7.1% cap rate and is fully occupied.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $1,720,000
• Units: 8
• Price Per Unit: $215,000
• Total Square Footage: 7,013
• Price Per Square Foot: $245
• Market: Jersey City
• Seller's Representatives: Daniel Shamooil & Yossi Tewel - Voro Real Estate

The transaction was represented by Daniel Shamooil and Yossi Tewel of Voro Real Estate, who facilitated the sale of the property. The note from the seller's representatives indicates the property was sold as one bundle deal in the Bergen-Lafayette area, which is highlighted as an increasingly attractive market for multifamily investments in New Jersey.