Updated Dec 19, 2024
David Ennis & Craig Rosenman Of The Daten Group Secures $17M Refinance For 46-Unit Hoboken Multifamily
600 Harrison Street
$17,000,000
Units
46
Asset Type
MultiFamily
Closing
Dec 18, 2024
About this deal
AI
600 Harrison Street is a 46-unit luxury multifamily building located in Hoboken. The property was developed by The Daten Group and was built in 2017, offering high-end finishes and state-of-the-art amenities. It provides convenient access to Manhattan via the 9th Street Light Rail Station.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $17,000,000
- Loan Type: Refinance
- Landlord: David Ennis & Craig Rosenman - The Daten Group
- Brokers: Fahri Ozturk, Jake Salkovitz, Jason Gaccione, Richard Gatto, Shawn Rosenthal & Zachary McHale - CBRE
- Date: 12/18/2024
- Address: 600 Harrison Street
- Market: Hoboken
CBRE arranged the refinancing for the property, highlighting the involvement of a team of brokers skilled in multifamily transactions. This refinancing reflects favorable conditions for property owners looking to optimize their asset portfolios within the Hoboken market.
On the Map
$17,000,000
MultiFamily
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Hoboken 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
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93