Updated Oct 28, 2024
Jersey City Redevelopment Agency Acquires School In Jersey City For $16M
28 Tonnele Avenue, Jersey City, NJ, USA
$16,000,000
Building Size
—
Asset Type
Other
Closing
Jun 23, 2020
About this deal
AI
Hudson County Community College (HCCC) has sold a school property located at 28 Tonnele Avenue, 150-154, 156, 158 & 160-164 Sip Avenue in Jersey City. The property has been purchased by the Jersey City Redevelopment Agency (JCRA) for a sale price of $16,000,000. The transaction took place on June 23, 2021.
Summary of transaction details
- Property Type: School
- Transaction Amount: $16,000,000
- Address: 28 Tonnele Avenue, 150-154, 156, 158 & 160-164 Sip Avenue, Jersey City
- Market: Jersey City
Hudson County Community College (HCCC) acted as the seller in this transaction, while the buyer was the Jersey City Redevelopment Agency (JCRA). The property comprises a school facility and is located in the vibrant market of Jersey City.
Players
Jersey City Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93