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Construction Loan Secured For Mixed-Use Property In Roselle Park, NJ

Property Image
FINANCED
$14,950,000

New Jersey

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Mixed-use43,560 SF
Financed 03/03/2023
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Property Image
FINANCED

Construction Loan Secured For Mixed-Use Property In Roselle Park, NJ

140 West Webster Avenue

See Similar Deals
Mixed-use43,560 SF
Financed 03/03/2023
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:Mixed-use
Price Per Square Foot:$343
Total Square Footage:43,560 SF
Transaction Type:Loan

The mixed-use property located at 140 West Webster Avenue in Roselle Park, NJ has undergone a closed transaction. Spanning across 43,560 square feet, this property offers a diverse range of uses.

Summary of transaction details

  • Property Type: Mixed-Use
  • Transaction Amount: $14,950,000
  • Address: 140 West Webster Avenue, Roselle Park, NJ
  • Market: Roselle Park, NJ

The loan for this transaction was secured from Columbia Bank, with a total loan amount of $14,950,000. The loan type was specified as construction. The owner and developer of the property are The Kontos Group, consisting of Chris Kontos, Joseph Hunter, Valentino Kontos, and Maik Kontos. They were represented by Kathy Anderson from Progress Capital as their broker. Kontos Construction served as the general contractor for this project.

Players

Kathy Anderson
Cushman & Wakefield
Kathy Anderson
55 deals$922.6M volume(732) 720-6301
BROKER
Columbia Bank
Columbia Bank
LENDER
TG
The Kontos Group
LANDLORD
TG
The Kontos Group
LANDLORD
TG
The Kontos Group
LANDLORD
TG
The Kontos Group
LANDLORD

Details

FINANCED
IMAGE: Valentino Kontos, Kathy Anderson, Maik Kontos DATE: 03/03/2023 ADDRESS: 140 West Webster Avenue MARKET: Roselle Park, NJ ASSET TYPE: Mixed-Use ~ SF: 43,560 LENDER: Columbia Bank (@Columbia.Bank) OWNER/DEVELOPER: The Kontos Group (@TheKontosGroup) - Chris Kontos (@Chris_Kontos), Joseph Hunter, Valentino Kontos (@ValentinoKontos) & Maik Kontos (@MaikKontos) BROKER: Kathy Anderson (@Money.Girl.Kathy) - Progress Capital (@Progress.Capital) GENERAL CONTRACTOR: Kontos Construction (@KontosConstruction) LOAN AMOUNT: $14,950,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$14,950,000.00

Monthly NOI$99,666.67
Monthly Debt Service$94,494.17
Change in Cash Flow$0.00
Refinance Proceeds$0.00