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Federal Realty Investment Trust Acquires Development Site In Hoboken For $9M

Property Image
SOLD
$9,000,000
Robert Mackowski
Jason Pierson

New Jersey

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Development Site14,650 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

Federal Realty Investment Trust Acquires Development Site In Hoboken For $9M

301 Washington Street

See Similar Deals
Development Site14,650 SF
Sold
Robert Mackowski
Jason Pierson
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:Development Site
Price Per Square Foot:$614
Total Square Footage:14650 SF
Transaction Type:Sale

The development site located at 301 Washington St in Hoboken has been sold in a recent transaction. The property spans approximately 14,650 square feet and has been purchased by Federal Realty Investment Trust for a total of $9,000,000. The sale price equates to a price per square foot of $614. The seller in this transaction was Capital One.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $9,000,000
  • Square Footage: 14,650
  • Price Per Square Foot: $614
  • Buyer: Federal Realty Investment Trust
  • Seller: Capital One
  • Brokers: Robert Mackowski & Jason Pierson - Pierson Commercial

Representing the buyer and seller in this deal were Robert Mackowski and Jason Pierson from Pierson Commercial. They facilitated the transaction between Federal Realty Investment Trust and Capital One.

Players

Jason Pierson
Jason Pierson
2 deals$9M volume
BROKER
Robert Mackowski
Pierson Commercial
Robert Mackowski
4 deals$14M volume(732) 707-6900
BROKER
Federal Realty Investment Trust
Federal Realty Investment Trust
BUYER
Capital One
Capital One
SELLER
Capital One
Capital One
LENDER

Details

SOLD
IMAGE: Robert Mackowski DATE: 11/18/2022 ADDRESS: 301 Washington St MARKET: Hoboken ASSET TYPE: Development Site BUYER: Federal Realty Investment Trust (@Federal.1962) SELLER: Capital One (@CapitalOne) BROKERS: Robert Mackowski (@Rob.Mackowski) & Jason Pierson - Pierson Commercial (@PiersonCommercial) SALE PRICE: $9,000,000 SF: 14,650 ~ PPSF: $614

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$480,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10