Updated Dec 21, 2023
Matthew Dodd Acquires Condo In Hoboken, NJ From Stanley Grossbard
59 Madison Street, Hoboken, New Jersey 07030, United States
$1,585,000
$622/SF
Building Size
2,547 SF
Asset Type
—
Closing
Feb 3, 2022
About this deal
AI
The condo located at 59 Madison St. in Hoboken, NJ has been sold. The property is a 2,547 square foot condo. The sale took place on February 4, 2022. The buyer of the condo is Matthew Dodd, while the seller is Stanley Grossbard. The transaction was facilitated by broker Dean Clark from RE/MAX. The property was listed for sale at an asking price of $1,565,000. However, it was sold for $1,585,000, exceeding the asking price by $20,000. The price per square foot for the condo is $622.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $1,585,000
- Address: 59 Madison St. Hoboken, NJ
- Buyer: Matthew Dodd
- Seller: Stanley Grossbard
- Broker: Dean Clark - RE/MAX
- Square Footage: 2,547
According to the broker, this condo had previously been listed by two other brokers without success. However, under the representation of Dean Clark, the property only took 3 weeks to sell and was able to achieve a sale price that exceeded the asking price by $20,000.
Players
Hoboken CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
About $622 per square foot on a published $1.6M for 2,547 square feet (2022).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.01%
Cash-on-Cash
-2.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93