Leverage Capital Provides $1.4M Bridge Loan For Development Site In Jersey City, NJ
511 Newark Avenue
$1,402,500
$256/SF
Building Size
5,471 SF
Asset Type
Development Site
Closing
Mar 22, 2022
AI
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
Bradley Beach 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
11.31%
Cash-on-Cash
-3.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93