Updated Oct 29, 2024
Madison Realty Capital Provides $395M Construction Loan For Jersey City Development Site
315-326 15th Street, Jersey City
$395,000,000
Building Size
—
Asset Type
Development Site
Closing
Nov 14, 2022
About this deal
AI
A development site located at 315-326 15th Street in Jersey City has secured a construction loan worth $395,000,000. The property, owned by Manhattan Building Company represented by Sanford Weiss, is situated in the market of Jersey City.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $395,000,000
- Lender: Madison Realty Capital - Josh Zegen
- Landlord: Manhattan Building Company - Sanford Weiss
- Date: 11/14/2022
Madison Realty Capital, represented by Josh Zegen, provided the construction loan for the project. Sanford Weiss, from the Manhattan Building Company, served as the landlord in the transaction.
On the Map
$395,000,000
Development Site
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Players
Newark Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93