Tuli Realty Acquires Multifamily Property In Jersey City For $13.7M
SOLD
$13,700,000
New Jersey
See Similar DealsMultiFamily55,228 SF
Sold 02/22/2024
SOLD
Tuli Realty Acquires Multifamily Property In Jersey City For $13.7M
96 Tuers Avenue & 100 Tuers Avenue
See Similar DealsMultiFamily55,228 SF
Sold 02/22/2024
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$730,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$48,673.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$64,944.99
Annual Debt Service$779,339.87
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