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199 Paris Avenue

Procida Funding Provides $14.5M Construction Loan For 46-Unit Condo In Northvale
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

Justin Horowitz

Brookfield Properties

Broker

$2.6B

vol

34 deals

Broker
Procida Funding
Procida FundingLender

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