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600 Harrison Street

Updated Dec 19, 2024

David Ennis & Craig Rosenman Of The Daten Group Secures $17M Refinance For 46-Unit Hoboken Multifamily
FINANCEDMultiFamily

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:

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

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$17,000,000

MultiFamily

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Players

Richard Gatto

CBRE

Broker

$999.8M

vol

43 deals

Broker

Hoboken MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $369.6K per unit across 46 units on a published $17M (2024).

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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

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