facebook

traded

+ Submit
Home

/

Deals

/

New Jersey

/

Mixed Use

/

Loan

/

104 Main St, Sparta, New Je...

Haven Savings Bank Provides $3.2M Refinance Loan For 20-Unit Mixed-Use Property On Main St. In Sparta, NJ
FINANCEDMixed-use

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

$3,200,000

Building Size

Asset Type

Mixed-use

Closing

Jun 7, 2022

AI

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

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.

Players

Will McKenna

Progress Capital

Broker

$6.2M

vol

2 deals

Broker
Haven Savings Bank
Haven Savings BankLender

Sparta Township Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.96%

Cash-on-Cash

-1.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93