Hoboken Public School District Leases 25550 Square Feet At 38 Jackson Street For 20 Years
38 Jackson Street
Building Size
25,550 SF
Asset Type
Mixed-use
Closing
Jan 7, 2026
AI
The mixed-use asset located at 38 Jackson Street in Hoboken encompasses a total square footage of 25,550. The property is part of Southend Hoboken, which integrates civic use into a development featuring 110 units, along with retail and commercial space.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Lease Term: 20 years
- Landlord: The Taurasi Group
- Tenant: Hoboken Public School District
- Broker: Jacqueline Petruzzelli - Corcoran Sawyer Smith
The Hoboken Public School District has committed to a 20-year lease, aiming to establish a Pre-K and Early Childhood Education Center, which is set to open for the 2026–2027 school year. This deal reflects a movement toward community-focused, multi-use projects in Hoboken's rapidly developing neighborhoods.
Players
Hoboken Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93