Kislak Company Brokers Acquire Hoboken Multifamily For $13.2M
510 Observer Highway
$13,200,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 29, 2022
AI
Located at 510-514 Observer Hwy in Hoboken, this multifamily property was recently sold in a closed transaction. The property consists of 21 units, with each unit being sold at an average price of $628,571 per square foot. The total sale price for the property was $13,200,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $13,200,000
- Units: 21
- Price per Square Foot: $628,571
The sale of this property was facilitated by Robert Squires and Scott Davidovic of the Kislak Company. They represented the buyer and seller in this transaction, ensuring a smooth process for both parties involved.
Players
Jersey City 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
1.20%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93