Haven Savings Bank Provides $3.2M Refinance Loan For 20-Unit Mixed-Use Property On Main St. In Sparta, NJ
FINANCED
$3,200,000
New Jersey
See Similar DealsMixed-use
Financed 06/08/2022
FINANCED
Haven Savings Bank Provides $3.2M Refinance Loan For 20-Unit Mixed-Use Property On Main St. In Sparta, NJ
104 Main St, Sparta, New Jersey 07871, United States
See Similar DealsMixed-use
Financed 06/08/2022
Summary
NEW JERSEY
Asset Type:Mixed-use
Transaction Type:Loan
A mixed-use property consisting of 20 units located at 104 Main St. in Sparta, NJ has recently undergone a refinancing transaction.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $3,200,000
- Date: 06/08/2022
- Market: Sparta, NJ
- Lender: Haven Savings Bank
- Broker: Will McKenna - Progress Capital
The loan was provided by Haven Savings Bank for the amount of $3,200,000 to facilitate the refinancing of the mixed-use property at 104 Main St. in Sparta, NJ.
Will McKenna, from Progress Capital, represented the parties involved in this transaction as the broker.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,200,000.00
Monthly NOI$21,333.33
Monthly Debt Service$20,226.18
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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