Leverage Capital Provides $1.4M Bridge Loan For Development Site In Jersey City, NJ
FINANCED
$1,402,500
New Jersey
See Similar DealsDevelopment Site5,471 SF
Financed 03/22/2022
FINANCED
Leverage Capital Provides $1.4M Bridge Loan For Development Site In Jersey City, NJ
511 Newark Avenue
See Similar DealsDevelopment Site5,471 SF
Financed 03/22/2022
Summary
NEW JERSEY
Asset Type:Development Site
Price Per Square Foot:$256
Total Square Footage:5,471 SF
Transaction Type:Loan
A development site located at 511 Newark Ave in Jersey City, NJ has recently undergone a closed property transaction. The property, with a buildable square footage (BSF) of 5,471, was involved in the deal.
Summary of transaction details:
- Property Type: Development Site
- Address: 511 Newark Ave
- Market: Jersey City, NJ
- BSF: 5,471
- Lender: Leverage Capital
- Brokers: Eric Panecki & Veronique Hut - Leverage Capital
- Loan Amount: $1,402,500
- Loan Type: Bridge
- Loan Terms: 18 months
The loan for this transaction was provided by Leverage Capital. Eric Panecki and Veronique Hut from Leverage Capital represented the parties involved in the deal.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,402,500.00
Monthly NOI$9,350.00
Monthly Debt Service$8,864.75
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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