Jove Juzmeski Acquires Multifamily Property From Steven Gelbtuch In Bayonne For $1.625M
SOLD
$1,625,000
New Jersey
See Similar DealsMultiFamily5,600 SF
Sold 01/31/2025
SOLD
Jove Juzmeski Acquires Multifamily Property From Steven Gelbtuch In Bayonne For $1.625M
265 Avenue B
See Similar DealsMultiFamily5,600 SF
Sold 01/31/2025
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$290
Total Square Footage:5,600 SF
Transaction Type:Sale
This multifamily property located at 265 Avenue B in Bayonne has a sale price of $1,625,000. The asset features a total of 5,600 square feet and comprises 9 units, resulting in a price per unit of $180,555 and a price per square foot of $290.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,625,000
- Units: 9
- Square Footage: 5,600
- Price Per Unit: $180,555
- Price Per Square Foot: $290
- Buyer: Jove Juzmeski
- Seller: Steven Gelbtuch
- Broker: Steven Matovski - Redwood Realty Advisors
- Date of Sale: 01/31/2025
The transaction involved key individuals including buyer Jove Juzmeski, who acquired the property from seller Steven Gelbtuch. The deal was represented by broker Steven Matovski of Redwood Realty Advisors, facilitating the sale in the Bayonne market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$86,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,773.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,703.33
Annual Debt Service$92,439.95
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