Updated Sep 9, 2024
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
About this deal
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.
On the Map
$2,285,000
$617/SF
MultiFamily
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Players
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