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
Roselle 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
2.76%
Cash-on-Cash
-0.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93