Updated Oct 28, 2024
BHD Management Refinances Development Site In Highland Park For $400K Loan
1102 Raritan Avenue, Highland Park, New Jersey 08904, United States
$400,000
$26/SF
Building Size
15,000 SF
Asset Type
Development Site
Closing
Jun 8, 2022
About this deal
AI
A development site located at 1102 Raritan Ave in Highland Park has recently undergone a refinancing transaction. The site has a building size of 15,000 square feet and a buildable square footage of 21,000. The transaction took place on June 9, 2022.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $400,000
- Market: Highland Park
- Lender: JG Funding Corp (Jeremy Goldzal & Josh Grunzweig)
- Landlord: BHD Management
- Loan Type: Refinance
- Loan Terms: 1st Lien, 12 months + extensions; I/O payment
The lender for this transaction was JG Funding Corp, represented by Jeremy Goldzal & Josh Grunzweig. The landlord for the property is BHD Management. The loan amount for the refinance was $400,000, and it was a first lien loan with a term of 12 months plus extensions, with interest-only payments.
Players
Highland Park Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
39.66%
Cash-on-Cash
-11.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93