Updated Oct 29, 2024
Spirit Bascom Ventures Acquires Multifamily Asset In Hoboken For $15.5M
204 Grand St, Hoboken, NJ, 07030
$15,500,000
Units
30
Asset Type
MultiFamily
Closing
Jan 23, 2019
About this deal
AI
The 30-unit apartment building located at 204 Grand St in Hoboken, NJ, 07030 has been acquired by Spirit Bascom Ventures for $15.5 million. Built in 2000, this six-story property features a mix of one- and two-bedroom apartments.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $15,500,000.00
- Market: Hoboken
- Seller's Representative: Manveer "Manny" Sanghera(Veerman Asset Management), Nat Gambuzza(Berkadia)
- Buyer: Spirit Bascom Ventures
Nat Gambuzza and Manny Sanghera of CBRE served as the Seller's Representatives, facilitating the undisclosed seller's side of the transaction. Jamie Leachman from HFF was instrumental in arranging acquisition financing for Spirit Bascom through Citizens Bank.
On the Map
$15,500,000
MultiFamily
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Players
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
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93