Bayport Funding Provides $4M Loan For Development Site On Van Reipen Ave In Jersey City, NJ
32 Van Reipen Avenue, Jersey City, NJ 07306, USA
$4,000,000
$27/SF
Building Size
148,136 SF
Asset Type
Development Site
Closing
Jul 19, 2020
AI
Located at 24-32 Van Reipen Ave in Jersey City, NJ, this development site was involved in a recent transaction. The property holds great potential for future development.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $4,000,000
- Address: 24-32 Van Reipen Ave, Jersey City, NJ
- Market: Jersey City, NJ
- Lender: Bayport Funding
- Lender Representatives: Marcia Kaufman, Harris Lukashok & Hakeem Edwards
- Loan Amount: $4,000,000
- Building Square Footage: 148,136
The loan for this transaction was provided by Bayport Funding, represented by Marcia Kaufman, Harris Lukashok & Hakeem Edwards. They played a crucial role in facilitating the financing.
Players
Jersey City 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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93