Updated Dec 4, 2024
Neil Santillan Sells Jersey City Multifamily Asset For $3.8M With Brokers Costandinos Romeo And Alexander Calle
334 2nd Street
$3,800,000
$450/SF
Building Size
8,435 SF
Asset Type
MultiFamily
Closing
Jul 8, 2024
About this deal
AI
The property asset involved in the transaction is a multifamily building located at 334 2nd Street in Jersey City. The sale price of the property was $3,800,000, and it comprises a total square footage of 8,435. The price per square foot for the asset is $450.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,800,000
- Address: 334 2nd Street
- Market: Jersey City
- Square Footage: 8,435
- Price Per Square Foot: $450
- Seller: Neil Santillan
- Broker's Representatives: Costandinos Romeo - EXP Realty ; Alexander Calle - Serhant
This transaction involved key representatives from the brokerage community. Costandinos Romeo represented the seller through EXP Realty, while Alexander Calle represented the seller through Serhant, facilitating the closing of this multifamily asset sale.
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
4.17%
Cash-on-Cash
-1.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93