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Tuli Realty Acquires Multifamily Property In Jersey City For $13.7M

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SOLD
$13,700,000

New Jersey

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MultiFamily55,228 SF
Sold 02/22/2024
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Property Image
SOLD

Tuli Realty Acquires Multifamily Property In Jersey City For $13.7M

96 Tuers Avenue & 100 Tuers Avenue

See Similar Deals
MultiFamily55,228 SF
Sold 02/22/2024
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Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$248
Total Square Footage:55,228 SF
Transaction Type:Sale

The multifamily property located at 96-100 Tuers Avenue in Jersey City was sold for $13,700,000. The property consists of 38 units with a price per unit of $360,526 and spans 27,614 square feet, resulting in a price per square foot of $496.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $13,700,000
  • Units: 38
  • Price Per Unit: $360,526
  • Square Footage: 27,614
  • Price Per Square Foot: $496
  • Address: 96-100 Tuers Avenue
  • Market: Jersey City

The transaction involved the buyer, Tuli Realty, purchasing the property from the seller, Nathan Indig. The deal was facilitated by the broker, David Ferber, from Matthews Real Estate Investment Services.

Players

David Ferber
24 deals$138M volume(201) 218-9156
BROKER

Details

SOLD
IMAGE: David Ferber DATE: 02/22/2024 ADDRESS: 96-100 Tuers Avenue MARKET: Jersey City ASSET TYPE: Multifamily BUYER: Tuli Realty SELLER: Nathan Indig BROKER: David Ferber - Matthews Real Estate Investment Services (@Matthews_REIS) SALE PRICE: $13,700,000 UNITS: 38 ~ PPU: $360,526 SF: 27,614 ~ PPSF: $496

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$48,673.20
Cash-on-Cash Return-1.27%
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