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

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FINANCED
$5,752,500

New Jersey

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Industrial158,752 SF
Financed 07/11/2024
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FINANCED

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

168-170 Westfield Avenue West & 180 Westfield Avenue West

See Similar Deals
Industrial158,752 SF
Financed 07/11/2024
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Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$36
Total Square Footage:158,752 SF
Transaction Type:Loan

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

SH
5 deals$266.9M volume
BROKER

LENDER

Details

FINANCED
IMAGE: Eric Shabat, Omar Kamil & Tracey Cullen DATE: 07/11/2024 ADDRESS: 168-170 & 180 Westfield Avenue West MARKET: Roselle Park ASSET TYPE: Industrial ~ SF: 79,376 LENDER: Omar Kamil, Eric Shabat & Tracey Cullen - Dime Community Bank (@DimeBankusa) BROKER: Steven Hersko - SHB Group LOAN AMOUNT: $5,752,500 LOAN TYPE: Acquisition Loan NOTE FROM LENDER: Omar Kamil, Eric Shabat & Tracey Cullen of Dime arrange 5.75M loan for moving company.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$5,752,500.00

Monthly NOI$38,350.00
Monthly Debt Service$36,359.71
Change in Cash Flow$0.00
Refinance Proceeds$0.00