Updated Dec 4, 2024
Michael Dibella Acquires Church On Madison Street In Hoboken For $3.8M
700-02 Madison Street
$3,800,000
$76/SF
Building Size
50,000 SF
Asset Type
Church
Closing
May 17, 2024
About this deal
AI
The property at 700-02 Madison Street in Hoboken, a Church asset, was sold for $3,800,000. Spanning 50,000 square feet, the sale price equated to $76 per square foot.
Summary of transaction details:
- Property Type: Church
- Transaction Amount: $3,800,000
- Buyer: Michael Dibella
- Seller: Mission Pentecostal
- Buyer's Representative: Silvana Aria-Yepez - Modern Spaces
- Asking Price: $3,800,000
Silvana Aria-Yepez from Modern Spaces represented the buyer, Michael Dibella, in the acquisition of the Church property located at 700-02 Madison Street in Hoboken.
The church sale at 700-02 Madison Street in Hoboken, New Jersey sold for $3.8M in 2024. The building is 50,000 square feet, implying about 76 per square foot on the published price. Silvana Aria-Yepez, Modern Spaces appear on the sale alongside Modern Spaces. This page is the Hoboken, New Jersey file for the 700-02 Madison Street church sold: pricing, party profiles, and other closed church comps from the same Hoboken sit in the Market section below. Filter that Hoboken church set by closing date to see what else sold near 700-02 Madison Street around 2024. Published consideration for 700-02 Madison Street is $3.8M, dated 2024. Cite this Michael Dibella Acquires Church On Madison Street In Hoboken For $3.8M sale when underwriting similar church product around Hoboken, New Jersey.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.17%
Cash-on-Cash
-1.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93