Hector Rosero Of Pilla Investments Secures $1.4M Construction Loan From Tei Kim Of Amplend For Norwood Development Site
26 Garnett Place
$1,439,000
$910/SF
Building Size
1,580 SF
Asset Type
Development Site
Closing
Mar 4, 2026
AI
The asset involved in this transaction is a development site located at 26 Garnett Place, Norwood. The site currently features an existing 1,580 square foot single-family residence that is planned for redevelopment into a larger 5,250 square foot luxury home.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,439,000
- Lender: Tei Kim - Amplend
- Landlord: Hector Rosero - Pilla Investments LLC
- Loan Type: Construction
- Loan Terms: 12 months
Tei Kim serves as the lender representing Amplend in this transaction, while Hector Rosero represents Pilla Investments LLC as the landlord. The loan secured is part of Pilla Investments' strategic move to expand within the high-end luxury development sector in North Jersey.
Players
Norwood Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.02%
Cash-on-Cash
-3.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93