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| Jones Hall Jersey City, New Jersey (Closed) |
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| LOCATION: |
591 Montgomery Street, Jersey City, New Jersey |
| PRICING: |
$7,500,000 ($68,181/unit, 4.9 GRM) |
| BRIEF DESCRIPTION: |
Elevatored thirteen (13) story apartment building with a basement and subbasement containing 110 units with a total of ± 93, 819 gross square feet. |
| GROSS INCOME |
Approximately $1,527,096 per annum. |
| SPECIAL NOTES: |
- Property consists of 56 efficiency/one-bathroom units, and 53 one-bedroom/one-bathroom units, all of which are senior living residences. One unit is for the superintendent.
- Located in Jersey City, “New York City’s Sixth Borough”. Close proximity to Jersey City PATH being minutes to Penn Station.
- Neighboring property, The Beacon Luxury Condos, held an auction in June 2009—average One-Bedroom units sold for $275,000.
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| **According to NJHMFA and Department of Community Affairs, some restrictions will apply to the future of the Property other than affordability. ** |
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