Multifamily Property In Jersey City Sold For $2.9M With Coldwell Banker's Brokers
80 Sussex Street
$2,900,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 12, 2023
AI
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
- Property Type: Multifamily
- Transaction Amount: $2,900,000
- Address: 80 Sussex Street
- Market: Jersey City
- Sellers' Brokers: Patrick Southern & Jill Biggs - Coldwell Banker
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
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
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93