Updated Feb 16, 2024
S3 Capital Secures $15.5M Loan For Development Site In Jersey City
338 Newark Ave, Jersey City, NJ 07302, USA
$15,500,000
$34/SF
Building Size
450,000 SF
Asset Type
Development Site
Closing
Dec 26, 2019
About this deal
AI
A development site located at 338 Newark Avenue in Jersey City, New Jersey, has been involved in a closed transaction. This property comprises 35 residential condo units and 3 retail spaces, with a total square footage of 45,000. The transaction took place on December 27, 2019.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $15,500,000
- Lender: S3 Capital – Robert Schwartz & Andrew Yakubovich @S3Capital
- Landlord: Anthony Heller
- SF: 45,000
- Units: 35 residential condo units, 3 retail spaces
The deal was facilitated by S3 Capital, represented by Robert Schwartz and Andrew Yakubovich. Anthony Heller served as the landlord in this transaction.
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
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93