Updated Feb 16, 2024
City National Bank Provides $60M Loan For Woodland Park Industrial Property
1150 Mcbride Avenue, Woodland Park, New Jersey 07424, United States
$60,000,000
$292/SF
Building Size
205,000 SF
Asset Type
Industrial
Closing
Aug 9, 2022
About this deal
AI
The industrial property located at 1150 McBride Ave in Woodland Park has recently undergone a closed transaction. Spanning over 205,000 square feet, the property is situated on a 16-acre plot.
Summary of Transaction Details
- Property Type: Industrial
- Transaction Amount: $60,000,000
- Address: 1150 McBride Ave
- Market: Woodland Park
- Square Footage: 205,000
- Acres: 16
The lender involved in this transaction is City National Bank, with Nick Zitelli representing the bank. The landlord comprises two entities: The STRO Cos., with Jack Shulman as their representative, and Kushner Real Estate Group, with Jamie Block representing them.
Players
Woodland Park 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
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93