Graham Acquires Hoboken Condo For $4.2M
1500 Hudson Street, Hoboken, New Jersey 07030, United States
$4,200,000
$1,489/SF
Building Size
2,820 SF
Asset Type
—
Closing
Dec 31, 2021
AI
The most expensive condo in Hoboken, NJ has just been sold. The property, located at 1500 Hudson St, was recently purchased for a staggering $4,200,000. This sale marks a significant milestone in the real estate market, as it is the highest price ever paid for a condo in Hoboken and the second highest price for a condo sale in all of New Jersey. The condo boasts a spacious 2,820 square feet, resulting in a price per square foot of $1,489. Its prime location and luxurious features contribute to its record-breaking sale price.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $4,200,000
- Address: 1500 Hudson St, Hoboken, NJ
- Buyer: Graham
- Seller: Revokable Trust 12IJ
- Buyer's Rep: Richard 'Tom' Crooks - Douglas Elliman
- Seller's Rep: Peter Cossio - Brown Harris Stevens
- Asking Price: $4,450,000
- Square Footage: 2,820
- Price per Square Foot: $1,489
The transaction involved several key individuals and companies. Representing the buyer, Graham, was Richard 'Tom' Crooks of Douglas Elliman. The seller, Revokable Trust 12IJ, was represented by Peter Cossio of Brown Harris Stevens. These experienced brokers played a crucial role in facilitating the sale of the record-breaking condo. Their expertise and negotiation skills ensured a successful transaction for both the buyer and the seller.
Players
Hoboken CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93