Isaac Sebbag Of Golden Sky Equities Secures $4.85M Refinance For Development Site In Elizabeth
FINANCED
$4,850,000
New Jersey
See Similar DealsDevelopment Site29,892 SF
Financed 09/03/2024
FINANCED
Isaac Sebbag Of Golden Sky Equities Secures $4.85M Refinance For Development Site In Elizabeth
225-229 Broad Street
See Similar DealsDevelopment Site29,892 SF
Financed 09/03/2024
Summary
NEW JERSEY
Asset Type:Development Site
Price Per Square Foot:$162
Total Square Footage:29,892 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,850,000.00
Monthly NOI$32,333.33
Monthly Debt Service$30,655.30
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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