Provident Bank Provides $1.115M Refinance Loan For Norwood Industrial Property
49 Oak Street, Norwood, NJ, USA
$1,115,000
$882/SF
Building Size
1,264 SF
Asset Type
Industrial
Closing
Jun 28, 2020
AI
Located at 49 Oak Street in Norwood, NJ, this industrial property recently underwent a refinancing transaction. The loan, amounting to $1,115,000, was secured from Provident Bank. The property is owned by Nathaniel Mufson.
Summary of Transaction Details
- Property Type: Industrial
- Transaction Amount: $1,115,000
- Address: 49 Oak Street, Norwood, NJ
- Market: Norwood, NJ
- Lender: Provident Bank
- Landlord: Nathaniel Mufson
- Loan Type: Refinance
Represented by David May and Evan Boles from Progress Capital, the refinancing deal for this industrial asset was successfully completed. Their expertise and negotiation skills played a vital role in securing the loan from Provident Bank.
Players
Norwood 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
14.23%
Cash-on-Cash
-4.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93