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56 3rd Street

Caillin Boles Arranges $2.1M Refinance Loan On Mixed-Use Property In Hoboken, NJ
FINANCEDMixed-use

Caillin Boles Arranges $2.1M Refinance Loan On Mixed-Use Property In Hoboken, NJ

56 3rd Street

$2,100,000

$259/SF

Building Size

8,090 SF

Asset Type

Mixed-use

Closing

Mar 4, 2024

AI

The mixed-use property located at 56 Third Street in Hoboken, NJ, boasts a total square footage of 8,090. The recent transaction involved a refinance loan amounting to $2,100,000 at a fixed rate of 5.85% for 5 years.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $2,100,000
  • Market: Hoboken, NJ
  • Address: 56 Third Street
  • Loan Type: Refinance
  • Loan Terms: 5.85% Rate Fixed for 5-Years

Seth Martin is the landlord of the property, while Caillin Boles from Progress Capital represented the deal as the broker.

Players

Caillin Boles

Cushman & Wakefield

Broker

$535M

vol

45 deals

Broker

Hoboken Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.55%

Cash-on-Cash

-2.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93