Webster Bank Refinances $700K Loan For Mixed-Use Property In Fair Lawn, NJ
River Road, Fair Lawn, NJ, USA
$700,000
Building Size
—
Asset Type
Mixed-use
Closing
Jun 25, 2020
AI
A mixed-use property located at 15-01 River Road in Fair Lawn, NJ recently underwent a refinancing transaction. The loan, which was facilitated by Webster Bank, amounted to $700,000. The property, owned by Simon Filip, is a mixed-use asset in the Fair Lawn market.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $700,000
- Lender: Webster Bank
- Landlord: Simon Filip
- Brokers: David May & Evan Boles - Progress Capital
The brokers involved in the deal were David May and Evan Boles, representing Progress Capital. They played a crucial role in facilitating the refinancing transaction. No additional information is available regarding the property or the transaction.
Players
Fair Lawn 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
22.66%
Cash-on-Cash
-6.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93