Updated Dec 4, 2024
Sheridan Capital Provides $5.85M Bridge Loan For Industrial Property On Madison Ave - Joe Fishman
730 Madison Ave, Paterson, NJ, USA
$5,850,000
$90/SF
Building Size
64,377 SF
Asset Type
Industrial
Closing
Oct 4, 2021
About this deal
AI
Joe Fishman of Sheridan Capital recently facilitated a loan transaction for an industrial property located at 730 Madison Ave in Patterson, NJ. The property spans 64,377 square feet and falls under the asset type of Industrial.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $5,850,000
In this bridge loan deal, Sheridan Capital provided a loan amount of $5,850,000. Joe Fishman, representing Sheridan Capital, acted as the broker in the transaction.
The industrial loan at 730 Madison Ave, Paterson, NJ, USA in Paterson, New Jersey financed for $5.9M in 2021. The building is 64,377 square feet, implying about 90 per square foot on the published price. Joe Fishman, Sheridan Capital appear on the loan alongside Sheridan Capital. This page is the Paterson, New Jersey file for the 730 Madison Ave, Paterson, NJ, USA industrial financed: pricing, party profiles, and other closed industrial comps from the same Paterson sit in the Market section below. Filter that Paterson industrial set by closing date to see what else financed near 730 Madison Ave, Paterson, NJ, USA around 2021. Published consideration for 730 Madison Ave, Paterson, NJ, USA is $5.9M, dated 2021. Cite this Sheridan Capital Provides $5.85M Bridge Loan For Industrial Property On Madison Ave - Joe Fishman loan when underwriting similar industrial product around Paterson, New Jersey.
Players
Paterson 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
2.71%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93