Prime Real Estate Group Acquires Multifamily Property In Hoboken, NJ For $2.1M
SOLD
$2,100,000
New Jersey
See Similar DealsMultiFamily2,000 SF
Sold 07/16/2021
SOLD
Prime Real Estate Group Acquires Multifamily Property In Hoboken, NJ For $2.1M
702 Bloomfield Street, Hoboken, NJ, USA
See Similar DealsMultiFamily2,000 SF
Sold 07/16/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$1,050
Total Square Footage:2,000 SF
Transaction Type:Sale
Situated at 702 Bloomfield St in Hoboken, NJ, this recently closed transaction involved a multifamily property. The sale took place on July 16, 2021, with the property fetching a sale price of $2,100,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,100,000
- Address: 702 Bloomfield St, Hoboken, NJ
- Market: Hoboken, NJ
The deal was facilitated by Todd Maloof from Prime Real Estate Group, representing the buyer, and Michael Acito from Christie's International Real Estate New Jersey, Inc, who acted as the seller's representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$112,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86
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