Toresco Holdings Sells Multifamily Asset At 308 Madison Street In Hoboken For $8M
SOLD
$8,000,000
New Jersey
See Similar DealsMultiFamily12,500 SF
Sold 10/29/2025
SOLD
Toresco Holdings Sells Multifamily Asset At 308 Madison Street In Hoboken For $8M
308 Madison Street
See Similar DealsMultiFamily12,500 SF
Sold 10/29/2025
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$640
Total Square Footage:12,500 SF
Transaction Type:Sale
The multifamily property located at 308 Madison Street in Hoboken is involved in a sale transaction. The asset comprises 18 units with a total square footage of 12,500. The sale price for this transaction amounts to $8,000,000, resulting in a price per unit of $444,444 and a price per square foot of $640.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $8,000,000
- Address: 308 Madison Street
- Market: Hoboken
- Units: 18
- Square Footage: 12,500
- Price Per Unit: $444,444
- Price Per Square Foot: $640
- Seller: Toresco Holdings
- Broker: Jason Trembicki - KW Commercial
Jason Trembicki from KW Commercial represents the seller, Toresco Holdings, in this transaction, facilitating the deal between the involved parties in the Hoboken market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
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