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1225 Garden Street

Sharon Shahinian Of Brown Harris Stevens Sells Hoboken Multifamily Brownstone For $3.85M
SOLDMultiFamily

Sharon Shahinian Of Brown Harris Stevens Sells Hoboken Multifamily Brownstone For $3.85M

1225 Garden Street

$3,850,000

Building Size

Asset Type

MultiFamily

Closing

Sep 25, 2024

AI

A historic 1892 brownstone located at 1225 Garden Street in Hoboken sold for $3.85 million. This multifamily asset features 2 units, resulting in a price per unit of $1,925,000. The property sold in just 10 days, marking it as a significant transaction in the local real estate market.

Summary of transaction details:

The transaction set the record for both the highest-priced brownstone sale on the block and in Hoboken this year. The rapid sale was facilitated by Sharon Shahinian of Brown Harris Stevens, highlighting her effective representation in this notable real estate deal.

Players

Sharon Shahinian

Brown Harris Stevens

Broker

$13.7M

vol

4 deals

Broker

Hoboken MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.12%

Cash-on-Cash

-1.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93