Sagi Ashkevits Refinances Industrial Property In Union City With $3M Loan
204 Paterson Plank Rd, Union City, New Jersey 07087, United States
$3,000,000
$166/SF
Building Size
18,000 SF
Asset Type
Industrial
Closing
Jun 29, 2022
AI
Located at 204 Paterson Plank Rd. in Union City, this industrial property spans 18,000 square feet. The asset was involved in a recent closed transaction, specifically a refinance loan.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,000,000
- Loan Type: Refinance
- Loan Terms: 75% LTV, 5 years fixed rate @ 3.65%
- Market: Union City
- Landlord: Sagi Ashkevits
- Broker: Daniel Taylor - Onyx Funding
Daniel Taylor from Onyx Funding represented the buyer in securing the refinance loan for this industrial property. The loan terms include a 75% loan-to-value ratio and a fixed rate of 3.65% for a period of five years.
Players
Union City 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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93