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80 Sussex Street

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

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

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

Broker

$51.2M

vol

29 deals

Broker

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