Updated Oct 28, 2024
The Feldman Companies Secures $15.6M Construction Loan For Development Site In Voorhees Township
119 Kresson Gibbsboro Road, Voorhees, New Jersey 08043, United States
$15,600,000
$104/SF
Building Size
150,000 SF
Asset Type
Development Site
Closing
Jun 5, 2022
About this deal
AI
The Feldman Companies, represented by Jordan Feldman, Mitchell Feldman, Matthew Beggs, and Justin Crow, have secured a $15,600,000 construction loan from New Wave Loans for a development site located at 119 Kresson Gibbsboro Rd in Voorhees Township. The site, with a building square footage (BSF) of 121,000 and a total square footage (SF) of 150,000, presents a promising opportunity for future development.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $15,600,000
- Address: 119 Kresson Gibbsboro Rd, Voorhees Township
- Market: Voorhees Township
- Loan Type: Construction
New Wave Loans has provided The Feldman Companies with a construction loan of $15,600,000 to support the development of the property. The loan will finance the construction of a new project on the development site, contributing to its growth and potential in the market. The Feldman Companies, led by Jordan Feldman, Mitchell Feldman, Matthew Beggs, and Justin Crow, have demonstrated their expertise in the real estate industry, making them well-suited to undertake this development venture.
Players
Voorhees Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Deal FAQ
Browse New Jersey development site loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93