ConnectOne Bank Provides $17M Loan For Multifamily Property In Weehawken. Sandy Tuli Is The Landlord
FINANCED
$17,000,000
California
See Similar DealsMultiFamily
Financed 06/10/2020
FINANCED
ConnectOne Bank Provides $17M Loan For Multifamily Property In Weehawken. Sandy Tuli Is The Landlord
700 John F. Kennedy Blvd, Weehawken, Nj 07086, Usa
See Similar DealsMultiFamily
Financed 06/10/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan
A multifamily property located at 700 JFK Blvd in Weehawken has recently undergone a loan transaction. The loan amount for this deal was $17,000,000, provided by ConnectOne Bank. The loan terms included a 7-year fixed rate with 2 years of interest-only payments. This property consists of 100 units and is owned by Sandy Tuli.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $17,000,000
- Loan Terms: 7 Year Fixed Rate, 2 Years I/O
- Units: 100
- Lender: ConnectOne Bank
- Landlord: Sandy Tuli
The mortgage broker for this transaction was Brad Domenico from Progress Capital. On the sales side, Niko Nicolaou and Ken Uranowitz from Gebroe-Hammer Associates represented the seller.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$17,000,000.00
Monthly NOI$113,333.33
Monthly Debt Service$107,451.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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