facebook
Traded Co logo
Submit

Provident Bank Provides $6M Loan For Industrial Property In Totowa

Property Image
FINANCED
$6,000,000
David Turley

New Jersey

See Similar Deals
Industrial225,000 SF
Financed 03/28/2022
the dealplayerscompscontact
Property Image
FINANCED

Provident Bank Provides $6M Loan For Industrial Property In Totowa

930 Riverview Drive, Totowa, New Jersey 07512, United States

See Similar Deals
Industrial225,000 SF
Financed 03/28/2022
David Turley
Contact now

Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$26
Total Square Footage:225,000 SF
Transaction Type:Loan

A loan of $6,000,000 was secured for an industrial property located at 930 Riverview Drive in Totowa. The property has a total square footage of 225,000 square feet and is owned by Tulfra Real Estate, represented by Sonny Jumani. The loan was provided by Provident Bank, with Robert McKee as the lender's representative. The deal was facilitated by Janet Proscia and David Turley of Cronheim Mortgage.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $6,000,000
  • Address: 930 Riverview Drive, Totowa
  • Market: Totowa
  • Asset Size: 225,000 square feet
  • Lender: Provident Bank - Robert McKee
  • Landlord: Tulfra Real Estate - Sonny Jumani
  • Brokers: Janet Proscia & David Turley - Cronheim Mortgage

Janet Proscia, Sonny Jumani, and David Turley played key roles in the deal, representing the respective parties involved. Their expertise and negotiation skills were instrumental in finalizing the loan agreement.

Players

3 deals$62.8M volume
BROKER


Provident Bank
LENDER

Details

FINANCED
IMAGE: Janet Proscia, Sonny Jumani & David Turley DATE: 03/28/2022 ADDRESS: 930 Riverview Drive MARKET: Totowa ASSET TYPE: Industrial ~ SF: 225,000 LENDER: Provident Bank (@ProvidentBank) - Robert McKee LANDLORD: Tulfra Real Estate - Sonny Jumani (@SanjeevJumani) BROKERS: Janet Proscia & David Turley - Cronheim Mortgage LOAN AMOUNT: $6,000,000

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$6,000,000.00

Monthly NOI$40,000.00
Monthly Debt Service$37,924.08
Change in Cash Flow$0.00
Refinance Proceeds$0.00