Kevin Cavanaugh Of Cavanaugh Group Acquires Downtown Hoboken Condo For $1.35M
SOLD
$1,350,000
New Jersey
See Similar Deals1,612 SF
Sold 08/22/2022
SOLD
Kevin Cavanaugh Of Cavanaugh Group Acquires Downtown Hoboken Condo For $1.35M
502 Madison Street, Hoboken, New Jersey 07030, United States
See Similar Deals1,612 SF
Sold 08/22/2022
Summary
NEW JERSEY
Price Per Square Foot:$837
Total Square Footage:1,612 SF
Transaction Type:Sale
A condo in Downtown Hoboken has been sold for $1,350,000. The property, located at 502 Madison St, spans 1,612 square feet and was listed with an asking price of $1,375,000. The transaction took place on August 22, 2022, and the sale price equates to a price per square foot of $837. The buyer's representative in the deal was Kevin Cavanaugh from the Cavanaugh Group at Compass.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $1,350,000
- Address: 502 Madison St
- Market: Downtown Hoboken
- Square Footage: 1,612 SF
- Price Per Square Foot: $837
Kevin Cavanaugh from the Cavanaugh Group at Compass represented the buyer in this transaction. Congratulations to all parties involved in the successful sale of this condo in Downtown Hoboken.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$72,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,796.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,399.69
Annual Debt Service$76,796.26
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