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401 East 3rd Street

Ramani Group Secures $60 Million Construction Loan From Invictus Real Estate Partners In Plainfield
FINANCEDDevelopment Site

Ramani Group Secures $60 Million Construction Loan From Invictus Real Estate Partners In Plainfield

401 East 3rd Street

$60,000,000

Building Size

Asset Type

Development Site

Closing

Oct 9, 2025

AI

401 East 3rd Street is a development site located in Plainfield, New Jersey, where a mixed-use project is set to be constructed. The project will include 266 residential units along with 10,000 square feet of retail space. The total amount for the construction loan is $60 million.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $60,000,000
  • Lender: Eric Scheffler & Christopher Pardo - Invictus Real Estate Partners
  • Landlord: Ramani Group
  • Broker: Brian Anderson - Cushman & Wakefield
  • Location: 401 East 3rd Street, Plainfield, New Jersey
  • Loan Type: Construction

Brian Anderson, representing Cushman & Wakefield, facilitated the financing for this development project, which is strategically located near the NJ Transit commuter rail station, enhancing its accessibility and potential value to future residents and businesses.

Players

Brian Anderson

Cushman & Wakefield

Broker

$378.3M

vol

40 deals

Broker
Cushman & Wakefield
Cushman & WakefieldBrokerage
Invictus Real Estate Partners
Invictus Real Estate PartnersLender

Plainfield 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

0.26%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93