Updated Oct 28, 2024
Laz Parking Realty Investors Secures $26.4M Acquisition Loan For Hoboken Parking Garage
1450 Bloomfield Street, Hoboken, New Jersey 07030, United States
$26,400,000
$67/SF
Building Size
389,984 SF
Asset Type
Other
Closing
Sep 7, 2022
About this deal
AI
A parking garage located at 1450 Bloomfield St in Hoboken has been involved in a recent transaction. The property, with a total square footage of 389,984, was acquired through an acquisition loan. The landlord of the parking garage is LAZ Parking Realty Investors. The deal was facilitated by broker Daniel Karp from Northmarq.
Summary of transaction details
- Property Type: Parking Garage
- Transaction Amount: $26,400,000
- Loan Type: Acquisition Loan
- Loan Terms: The financing included a fixed-rate loan with a 10-year term. The initial five years consist of interest-only payments, followed by a 30-year amortization schedule.
Daniel Karp from Northmarq represented the buyer or seller in this transaction. This acquisition loan allowed the buyer to secure financing for the parking garage located at 1450 Bloomfield St in Hoboken. The financing terms provide flexibility with interest-only payments for the initial five years, followed by a 30-year amortization schedule.
On the Map
$26,400,000
$67/SF
Other
View full map
Players
Hoboken Other Market Snapshot
Boundary boundary · Other · Loan transactions
Loading comparables…
Deal FAQ
Visit Daniel Karp to view all their deals.
Browse New Jersey other loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93