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Multifamily Property In Jersey City Sold For $2.9M With Coldwell Banker's Brokers

Property Image
SOLD
$2,900,000
Patrick Southern
Jill Biggs

New Jersey

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MultiFamily
Sold 10/12/2023
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Property Image
SOLD

Multifamily Property In Jersey City Sold For $2.9M With Coldwell Banker's Brokers

80 Sussex Street

See Similar Deals
MultiFamily
Sold 10/12/2023
Patrick Southern
Jill Biggs
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale

A multifamily property located at 80 Sussex Street in Jersey City was sold for $2.9 million. The property encompasses a residential building with multiple units, catering to the needs of multiple families. Situated in the bustling market of Jersey City, this property offers a lucrative investment opportunity for potential buyers.

Summary of transaction details

This sale was facilitated by Patrick Southern and Jill Biggs, both reputable brokers representing Coldwell Banker. With their extensive knowledge and expertise in the real estate market, they successfully closed the deal, ensuring a smooth transaction for both the buyer and the seller.

Players

Jill Biggs
Coldwell Banker
Jill Biggs
29 deals$51.2M volume
BROKER
Patrick Southern
Coldwell Banker
Patrick Southern
19 deals$38.1M volume
BROKER

Details

SOLD
IMAGE: Patrick Southern & Jill Biggs DATE: 10/12/2023 ADDRESS: 80 Sussex Street MARKET: Jersey City ASSET TYPE: Multifamily BROKERS: Patrick Southern (@PropertiesbySouthern) & Jill Biggs (@TheJillBiggsGroup) - Coldwell Banker (@ColdwellBanker) SALE PRICE: $2,900,000 NOTE: A multifamily property located at 80 Sussex Street in Jersey City was sold for $2.9 million. The sale was brokered by Patrick Southern and Jill Biggs from Coldwell Banker.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$154,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,303.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,747.48
Annual Debt Service$164,969.75