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BHD Management Refinances Development Site In Highland Park For $400K Loan

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FINANCED
$400,000

New Jersey

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Development Site15,000 SF
Financed 06/09/2022
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FINANCED

BHD Management Refinances Development Site In Highland Park For $400K Loan

1102 Raritan Avenue, Highland Park, New Jersey 08904, United States

See Similar Deals
Development Site15,000 SF
Financed 06/09/2022
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Development Site
Price Per Square Foot:$26
Total Square Footage:15,000 SF
Transaction Type:Loan

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

JG Funding Corporation
JG Funding Corporation
LENDER

Details

FINANCED
IMAGE: Jeremy Goldzal & Josh Grunzweig DATE: 06/09/2022 ADDRESS: 1102 Raritan Ave MARKET: Highland Park ASSET TYPE: Development Site ~ BSF: 21,000 ~ SF: 15,000 LENDER: JG Funding Corp (@JGfunding) - Jeremy Goldzal & Josh Grunzweig LANDLORD: BHD Management LOAN AMOUNT: $400,000 LOAN TYPE: Refinance LOAN TERMS: 1st Lien, 12 months + extensions; I/O payment

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$400,000.00

Monthly NOI$2,666.67
Monthly Debt Service$2,528.27
Change in Cash Flow$0.00
Refinance Proceeds$0.00