Updated Oct 13, 2026
Peoples Security Bank Provides $3.75M Refinance Loan For Industrial Property In Carlstadt, NJ
368-380 Paterson Plank Road
$3,750,000
$121/SF
Building Size
31,000 SF
Asset Type
Industrial
Closing
Dec 9, 2022
About this deal
AI
The three industrial warehouses located at 368-380 Paterson Plank Road in Carlstadt, NJ have been refinanced. The total square footage of the properties spans over 31,000 square feet. The refinancing was facilitated by Peoples Security Bank and Laino Enterprises is the landlord. The loan amount for this transaction is $3,750,000. The loan type is a refinance, and it was secured with a 5-year fixed rate loan.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $3,750,000
- Lender: Peoples Security Bank
- Landlord: Laino Enterprises
- Broker: Emil DePasquale - Black Bear Capital Partners
Emil DePasquale from Black Bear Capital Partners represented the parties involved in this loan transaction. The refinancing of these industrial warehouses provides an opportunity for the landlord, Laino Enterprises, to optimize their investment. Peoples Security Bank played a crucial role as the lender, supporting the refinancing with their financial expertise.
On the Map
$3,750,000
$121/SF
Industrial
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Players
Jersey 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
4.23%
Cash-on-Cash
-1.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93