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.
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