Updated May 12, 2025
Anuj Parmar Of GND Builders Sells Multifamily Property At 96 Van Horne Street For $1.62M
96 Van Horne Street
$1,620,000
$462/SF
Building Size
3,500 SF
Asset Type
MultiFamily
Closing
Mar 21, 2025
About this deal
AI
The property asset involved in the transaction is a multifamily building located at 96 Van Horne Street in Jersey City. The sale price was $1,620,000, encompassing a total of 3,500 square feet. The property consists of two units, leading to a price per unit of $810,000 and a price per square foot of $462.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,620,000
- Units: 2
- Address: 96 Van Horne Street
- Market: Jersey City
- Seller: Anuj Parmar - GND Builders
- Broker: Charlaine Mercado - Prominent Properties Sotheby’s International Realty
The deal included two distinct units. Unit 1 is a duplex condo with an entire garage floor accommodating three parking spaces, a spacious backyard, three bedrooms, three full bathrooms, and a 500 square foot studio space, which sold for $920,000. Unit 2 comprises three bedrooms and two full bathrooms, featuring a private roof deck, and it sold for $700,000. Note from the broker highlighted the successful sale in the Bergen-Lafayette neighborhood, emphasizing its proximity to landmarks such as the Statue of Liberty and Ellis Island.
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
9.79%
Cash-on-Cash
-2.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93