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229 Park Ave, Hoboken, NJ 0...

Staci Manoukian Acquires Multifamily Property On Park Avenue, Hoboken For $2.3M
SOLDMultiFamily

Staci Manoukian Acquires Multifamily Property On Park Avenue, Hoboken For $2.3M

229 Park Ave, Hoboken, NJ 07030

$2,285,000

$617/SF

Building Size

3,700 SF

Asset Type

MultiFamily

Closing

Jun 6, 2023

AI

A multifamily property located at 229 Park Avenue in Hoboken has been sold for a price of $2,285,000. The property consists of 4 units with an average price per unit of $571,250. The total square footage of the property is 3,700, resulting in a price per square foot of $618.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,285,000
  • Address: 229 Park Avenue, Hoboken
  • Market: Hoboken
  • Seller: Giovanni & Teresa Pepe
  • Buyer's Representative: Staci Manoukian - Remax
  • Seller's Representative: Kunal Sodhi - Keller Williams Premier Properties
  • Units: 4
  • Price per Unit: $571,250
  • Square Footage: 3,700
  • Price per Square Foot: $618

Staci Manoukian, representing the buyer, and Kunal Sodhi, representing the sellers, were involved in the transaction. Staci Manoukian is from Remax, while Kunal Sodhi is from Keller Williams Premier Properties.

Players

Kunal Sodhi

Keller Williams Realty

Broker

$3.6M

vol

2 deals

Broker

New Jersey 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

6.94%

Cash-on-Cash

-1.98%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93