Updated Oct 29, 2024
Freddie Mac Optigo Provides $21.65M Loan For Hoboken Multifamily Property
619 Adams Street, Hoboken, NJ, USA
$21,650,000
$1,082/SF
Building Size
19,998 SF
Asset Type
MultiFamily
Closing
Nov 29, 2020
About this deal
AI
An article has been closed in Hoboken involving a multifamily property located at 619 Adams Street. The property consists of 50 units and was involved in a transaction on November 30, 2020.
Summary of transaction details
- Property Type: Multifamily
- Transaction Date: November 30, 2020
- Address: 619 Adams Street, Hoboken
- Units: 50
The loan for this transaction was provided by Freddie Mac Optigo, with a total amount of $21,650,000. The loan terms span over a duration of 10 years.
JDA Group, LLC represented by Gregory Dell’Aquila acted as the landlord in this deal. The brokers involved were Michael Klein and Matthew Pizzolato from JLL Capital Markets.
Players
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
0.73%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93