Updated Oct 29, 2024
Ironstate Development Lands $90.5M Loan For Hoboken Multifamily
1201 Hudson Street, Hoboken, NJ, USA
$90,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Jan 21, 2021
About this deal
AI
A $90,500,000 loan has been secured for a multifamily property in Hoboken. The property, located at 1201 Hudson Street and 1 Independence Court, is owned by Ironstate Development. The loan terms include a 10-year fixed-rate and supplemental loan.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $90,500,000
- Market: Hoboken
- Address: 1201 Hudson Street & 1 Independence Court
The loan was facilitated by brokers Thomas Didio Jr. and Max Custer from JLL. They represented Ironstate Development in the deal.
Players
Hoboken MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse New Jersey multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93