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720 Clinton Street

EMazzanti Technologies Acquires Retail Space At 720 Clinton St In Hoboken For $2.475M
SOLDRetail

EMazzanti Technologies Acquires Retail Space At 720 Clinton St In Hoboken For $2.475M

720 Clinton Street

$2,475,000

$727/SF

Building Size

3,400 SF

Asset Type

Retail

Closing

Oct 28, 2022

AI

A commercial retail property located at 720 Clinton St in Hoboken has been sold. The property is a +/- 3,400 square foot commercial condo at Wonder Lofts. The sale took place on October 28, 2022, with a sale price of $2,475,000. The price per square foot for the transaction was $728.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,475,000
  • Address: 720 Clinton St
  • Market: Hoboken
  • Square Footage: 3,400

The buyer of the property was eMazzanti Technologies, while the seller was Prism Capital Partners. The transaction was facilitated by broker Robert Mackowski of Pierson Commercial.

Note from brokers: The commercial condo at Wonder Lofts proved to be an attractive investment opportunity.

Players

Robert Mackowski

Pierson Commercial

Broker

$14M

vol

4 deals

Broker
eT
eMazzanti TechnologiesBuyer
PP
Prism Capital PartnersSeller

Hoboken Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.41%

Cash-on-Cash

-1.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93