Updated Oct 29, 2024
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
About this deal
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.
On the Map
$1,402,500
$256/SF
Development Site
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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