Updated Oct 28, 2024
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
About this deal
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.
The condo loan at 199 Paris Avenue in Northvale, New Jersey financed for $14.5M in 2022. Reported inventory is 46 units across 46 units. Richard Horowitz, Justin Horowitz, Cooper Horowitz appear on the loan alongside Cooper Horowitz. This page is the Northvale, New Jersey file for the 199 Paris Avenue condo financed: pricing, party profiles, and other closed condo comps from the same Northvale sit in the Market section below. Filter that Northvale condo set by closing date to see what else financed near 199 Paris Avenue around 2022. Published consideration for 199 Paris Avenue is $14.5M, dated 2022. Cite this Procida Funding Provides $14.5M Construction Loan For 46-Unit Condo In Northvale loan when underwriting similar condo product around Northvale, New Jersey.
Players
Northvale Condo Market Snapshot
Boundary boundary · Condo · Loan transactions
Loading comparables…
Deal FAQ
Visit Richard Horowitz to view all their deals.
Browse Northvale condo loans on Traded.
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