Updated Feb 16, 2024
S3Capital Provides $44M Loan For 55-Unit Multifamily Project In Hoboken
Manhattan Ave, Jersey City, NJ 07307, USA
$44,000,000
$25/SF
Building Size
1,750,000 SF
Asset Type
MultiFamily
Closing
Nov 14, 2019
About this deal
AI
1300 Manhattan Avenue, a multifamily property located in Hoboken, New Jersey, was recently involved in a closed transaction. The property spans 175,000 square feet and consists of 55 units. The deal was financed by S3Capital, providing a loan amount of $44,000,000 with a ground-up construction term of 30 months. The transaction took place on November 15, 2019.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $44,000,000
- Address: 1300 Manhattan Avenue
- Market: Hoboken, New Jersey
- Lender: S3Capital
- Landlord: Raymond Grabato
- Originator: Steven Jemal
- Square Footage: 175,000
- Units: 55
The key individuals involved in this transaction include Steven Jemal as the originator and Raymond Grabato as the landlord. Steven Jemal represents the loan originator in this deal.
Players
Jersey City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93