Procida Funding Provides $14.5M Construction Loan For 46-Unit Condo In Northvale
FINANCED
$14,500,000
New Jersey
See Similar DealsCondo
Financed 03/21/2022
FINANCED
Procida Funding Provides $14.5M Construction Loan For 46-Unit Condo In Northvale
199 Paris Avenue
See Similar DealsCondo
Financed 03/21/2022
Summary
NEW JERSEY
Asset Type:Condo
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$14,500,000.00
Monthly NOI$96,666.67
Monthly Debt Service$91,649.86
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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