Updated Sep 11, 2026
City National Bank Of NY Provides $5M Acquisition Loan For Industrial Property In Newark
175 Mount Pleasant Avenue
$5,000,000
$159/SF
Building Size
31,429 SF
Asset Type
Industrial
Closing
Nov 21, 2022
About this deal
AI
The industrial property located at 175 Mt Pleasant Avenue in Newark, NJ has been involved in a recent transaction. The property spans approximately 31,428 square feet and was acquired through a loan.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $5,000,000
- Address: 175 Mt Pleasant Avenue, Newark, NJ
- Market: Newark, NJ
The loan for the acquisition was provided by City National Bank of NY. The landlord of the property is Ron Kenigsberg. Representing the deal as the broker is John Libretti from Progress Capital.
On the Map
$5,000,000
$159/SF
Industrial
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Players
Newark 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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93