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Vish Veda Purchases Multifamily Property From Richard Tono In Jersey City For $1.2M

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SOLD
$1,200,000

New Jersey

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MultiFamily6,600 SF
Sold 01/20/2026
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Property Image
SOLD

Vish Veda Purchases Multifamily Property From Richard Tono In Jersey City For $1.2M

65 Hopkins Avenue

See Similar Deals
MultiFamily6,600 SF
Sold 01/20/2026
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$181
Total Square Footage:6,600 SF
Transaction Type:Sale

The asset involved in this transaction is a multifamily property located at 65 Hopkins Avenue in Jersey City. The seller, Richard Tono, successfully concluded the sale at a price of $1,200,000 for the 6-unit building, which has a total square footage of 6,600. The price per unit was calculated at $200,000, and the price per square foot stands at $181.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,200,000
  • Units: 6
  • Square Footage: 6,600
  • Price per Unit: $200,000
  • Price per Square Foot: $181
  • Buyer: Vish Veda
  • Seller: Richard Tono
  • Brokers: Chris Vitiello & Gregory Edgell - Grid Real Estate

Chris Vitiello and Gregory Edgell represented the seller in this transaction, highlighting their role in facilitating the deal. Their expert negotiation led to a successful sale, and they invite potential sellers to reach out if they have a property to sell, providing their contact number 551-204-1361.

Players

Gregory Edgell
15 deals$26.7M volume(973) 610-5145
BROKER

Chris Vitiello
Grid Real Estate
11 deals$12.3M volume(551) 204-1361
BROKER

Grid Real Estate
BROKERAGE

Details

SOLD
IMAGE: Chris Vitiello & Gregory Edgell DATE: 01/20/2026 ADDRESS: 65 Hopkins Avenue MARKET: Jersey City ASSET TYPE: Multifamily BUYER: Vish Veda SELLER: Richard Tono BROKERS: Chris Vitiello & Gregory Edgell - Grid Real Estate (@GridRealEstate) SALE PRICE: $1,200,000 UNITS: 6 ~ PPU: $200,000 SF: 6,600 ~ PPSF: $181 NOTE FROM BROKER: Another great deal. 6 Units, 200k per unit. Call us if you have a property to sell. 551-204-1361.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$64,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,263.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,688.61
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