Kearny Bank Provides $27.8M Loan For Industrial Properties In Linden, Northvale, Teterboro & Wyckoff
1110 Springfield Road, Linden, NJ, USA
$27,800,000
$81/SF
Building Size
340,000 SF
Asset Type
Industrial
Closing
Mar 8, 2021
AI
The industrial property located at 1110 Springfield Road, 235 & 245 Pegasus Ave., 370 North St. & 500 W. Main St. in Linden, Northvale, Teterboro & Wyckoff was involved in a recent transaction.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $27,800,000
- Square Footage: 340,000
- Lender: Kearny Bank - Gary Brozowski
- Landlord: The Stro Cos. - Jack Shulman
The deal was facilitated through a loan provided by Kearny Bank, represented by Gary Brozowski. The Stro Cos., represented by Jack Shulman, acted as the landlord.
Players
Linden Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93