KSR Capital Secures $3.4 Million Loan From Flushing Bank For Industrial Property In Clifton, NJ
FINANCED
$3,400,000
New Jersey
See Similar DealsIndustrial32,976 SF
Financed 12/17/2024
FINANCED
KSR Capital Secures $3.4 Million Loan From Flushing Bank For Industrial Property In Clifton, NJ
473 US Route 46
See Similar DealsIndustrial32,976 SF
Financed 12/17/2024
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$103
Total Square Footage:32,976 SF
Transaction Type:Loan
The asset involved in this transaction is an industrial property located at 473 US Route 46 in Clifton, NJ. The property has a total square footage of 32,976 and was acquired for a loan amount of $3,400,000, with a price of $162 PSF.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,400,000
- Lender: Flushing Bank
- Landlord: KSR Capital
- Broker: Morris Dweck - Kassin Sabbagh Realty
- Loan Type: Acquisition
- Loan Terms: 65% LTV, 5/30, Non-Recourse
Morris Dweck played a pivotal role in representing KSR Capital in securing financing for this property. His efforts resulted in obtaining a 65% loan-to-value ratio with non-recourse financing, emphasizing his expertise in facilitating such transactions in the industrial real estate market.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,400,000.00
Monthly NOI$22,666.67
Monthly Debt Service$21,490.31
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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