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
- 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.
Players
Sparta Township Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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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