Isaac Sebbag Of Golden Sky Equities Secures $4.85M Refinance For Development Site In Elizabeth
225-229 Broad Street
$4,850,000
$162/SF
Building Size
29,892 SF
Asset Type
Development Site
Closing
Sep 3, 2024
AI
The property asset involved in the transaction is a development site located at 225-229 Broad Street in Elizabeth. The site encompasses a total square footage of 29,892 and is part of a mid-market value add focus by Golden Sky Equities.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,850,000
- Loan Type: Refinance
- Landlord: Isaac Sebbag - Golden Sky Equities
- Broker: Michael Weisz - Aandar Real Estate Capital
Isaac Sebbag, representing Golden Sky Equities, continues to prioritize investments in multi-family and mixed-use real estate, indicating potential for future acquisitions and partnerships. Michael Weisz of Aandar Real Estate Capital facilitated this refinancing deal to support their operational strategies.
Players
Elizabeth Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.27%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93