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168-170 Westfield Avenue West

Dime Community Bank Provides $5.75M Acquisition Loan For Industrial Property In Roselle Park
FINANCEDIndustrial

Dime Community Bank Provides $5.75M Acquisition Loan For Industrial Property In Roselle Park

168-170 Westfield Avenue West & 180 Westfield Avenue West

$5,752,500

$36/SF

Building Size

158,752 SF

Asset Type

Industrial

Closing

Jul 11, 2024

AI

Located at 168-170 & 180 Westfield Avenue West in Roselle Park, the industrial property spans 79,376 square feet. The loan was facilitated by Dime Community Bank, with Omar Kamil, Eric Shabat, and Tracey Cullen serving as lenders. The loan amount secured for the acquisition was $5,752,500. The transaction was brokered by Steven Hersko from the SHB Group.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $5,752,500
  • Address: 168-170 & 180 Westfield Avenue West, Roselle Park
  • Market: Roselle Park
  • Lender: Omar Kamil, Eric Shabat & Tracey Cullen - Dime Community Bank
  • Broker: Steven Hersko - SHB Group

The loan amount of $5,752,500 was arranged by Omar Kamil, Eric Shabat, and Tracey Cullen from Dime Community Bank specifically for a moving company. The involvement of these lenders highlights their support in the acquisition of this industrial property in Roselle Park. Steven Hersko of the SHB Group played a crucial role as the broker in facilitating the deal.

Players

Steven Hersko

SHB Group

Broker

$266.9M

vol

5 deals

Broker
Dime Community Bank
Dime Community BankLender

Roselle Park Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.76%

Cash-on-Cash

-0.79%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93