Amar Mody & Basilio Rivera Of Sotheby's Broker $9.1M Student Housing Sale
SOLD
$9,100,000
New Jersey
See Similar DealsStudent Housing107,681 SF
Sold 05/08/2024
SOLD
Amar Mody & Basilio Rivera Of Sotheby's Broker $9.1M Student Housing Sale
104 Glenwood Avenue & 146-152 Glenwood Avenue
See Similar DealsStudent Housing107,681 SF
Sold 05/08/2024
Summary
NEW JERSEY
Asset Type:Student Housing
Price Per Square Foot:$84
Total Square Footage:107,681 SF
Transaction Type:Sale
The student housing property located at 104 Glenwood Avenue & 146-152 Glenwood Avenue in Jersey City has been sold for $9,100,000. The total area of the property spans 53,862 square feet, resulting in a price per square foot of $169.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $9,100,000
- Address: 104 Glenwood Avenue & 146-152 Glenwood Avenue
- Market: Jersey City
Amar Mody and Basilio Rivera from Sotheby's International Realty facilitated the transaction of the student housing property in Jersey City. Their expertise in the real estate market played a crucial role in the successful sale of this significant asset.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$485,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$32,330.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,138.64
Annual Debt Service$517,663.71
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