Updated Oct 28, 2024
Minnesota Life Insurance Co. Provides $25M Refinancing Loan For Retail Property In Hoboken
900 Madison Street
$25,000,000
$261/SF
Building Size
95,688 SF
Asset Type
Retail
Closing
May 31, 2022
About this deal
AI
Located at 900 Madison St in Hoboken, this retail property spans over 95,688 square feet. The transaction took place on 05/31/2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $25,000,000
- Lender: Minnesota Life Insurance Co.
- Landlord: Northwest Redevelopment Supermarkets LLC
- Brokers: Thomas Didio & Thomas Didio Jr. - JLL
The loan for this property was provided by Minnesota Life Insurance Co. The loan amount was $25,000,000 and it was a refinancing loan. The loan terms included a 10-year term and a fixed interest rate.
On the Map
$25,000,000
$261/SF
Retail
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Players
Hoboken Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93