FINANCEDCondo
Procida Funding Provides $14.5M Construction Loan For 46-Unit Condo In Northvale
199 Paris Avenue
$14,500,000
Units
46
Asset Type
Condo
Closing
Mar 21, 2022
AI
The property involved in this transaction is a condo located at 199 Paris Ave in Northvale. It consists of 46 units and the transaction took place on 03/21/2022.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $14,500,000
- Address: 199 Paris Ave
- Market: Northvale
- Lender: Procida Funding - Billy Procida
- Loan Type: Construction Loan
Billy Procida from Procida Funding served as the lender for this transaction. The loan amount provided was $14,500,000 and it was a construction loan.
Players
Northvale Condo Market Snapshot
Boundary boundary · Condo · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93