Jignesh Patel Purchases 20 Unit Multifamily Property From Abraham Weinberg In Bayonne
783 John F Kennedy Boulevard
Building Size
14,400 SF
Asset Type
MultiFamily
Closing
Aug 28, 2025
AI
The property asset involved in the transaction is a multifamily building located at 783 John F Kennedy Boulevard, Bayonne. This asset consists of 20 units and encompasses a total square footage of 14,400. The transaction represents a significant addition to the multifamily market in this area.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Units: 20
- Square Footage: 14,400
- Address: 783 John F Kennedy Boulevard
- Market: Bayonne
- Buyer: Jignesh Patel
- Seller: Abraham Weinberg
- Broker: David Ferber - Matthews
This deal involved Jignesh Patel as the buyer and Abraham Weinberg as the seller. The brokerage services were provided by David Ferber from Matthews, who represented the transaction effectively.
Players
Bayonne 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
3.82%
Cash-on-Cash
-1.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93