Updated Oct 29, 2024
JG Funding Corp Provides $875K Refinancing Loan For Development Site In Bergenfield, NJ
65 Thames Boulevard
$875,000
$58/SF
Building Size
15,000 SF
Asset Type
Development Site
Closing
Dec 1, 2022
About this deal
AI
Located at 65 Thames Blvd in Bergenfield, NJ, this development site spans approximately 15,000 square feet with a building square footage of 12,000. The property is under the ownership of 65 Thames LLC.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $875,000
- Loan Type: Refinancing Loan
- Lender: JG Funding Corp - Jeremy Goldzal
- Loan Terms: 1st Lien, 12 months + extensions; I/O payment - FIXED RATE
Jeremy Goldzal of JG Funding Corp facilitated the loan for this property, providing the borrower with a loan amount of $875,000. The loan is a refinancing loan with a fixed rate and an interest-only payment structure. The terms include a 12-month duration, with the possibility of extensions, and a first lien on the property.
Players
Bergenfield Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
18.13%
Cash-on-Cash
-5.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93