David M. Rottenberg Of MORVAY Secures $15.4M Loan From ConnectOne Bank For Development Site
2530 Kuser Road & 110 North Gold Drive
$15,400,000
Building Size
—
Asset Type
Development Site
Closing
Jul 22, 2026
AI
The asset involved is a development site located at 2530 Kuser Road & 110 North Gold Drive in the Hamilton & Robbinsville, NJ market. The total buildable square footage (BSF) for the site is approximately 113,000 square feet, and it is designated for two Class A shallow-bay industrial projects. A construction loan has been secured for the project.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $15,400,000
- Lender: ConnectOne Bank
- Landlord: David M. Rottenberg - MORVAY
- Loan Type: Construction
- Market: Hamilton & Robbinsville, NJ
MORVAY is advancing its development portfolio by preparing these industrial projects, which are projected for completion by the end of 2026. The firm is also expanding its project pipeline, with plans for an additional 350,000 square feet of industrial projects across the Tri-State region and Florida, in response to the growing demand for modern small-format industrial space.
Players
Robbinsville 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
1.03%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93