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510 Observer Highway

Kislak Company Brokers Acquire Hoboken Multifamily For $13.2M
SOLDMultiFamily

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

Scott Davidovic

Kislak

Broker

$135M

vol

7 deals

Broker

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