Updated Dec 4, 2023
Samaan Capital Secures $18M Construction Loan For Passaic Mixed-Use Property
178 6th St Passaic, NJ 07055, USA
$18,035,000
$132/SF
Building Size
136,000 SF
Asset Type
Mixed-use
Closing
Jun 16, 2023
About this deal
AI
The mixed-use property located at 178-184 Sixth Street & 172-176 Sixth Street in Passaic, NJ has been involved in a recent transaction. The property spans approximately 136,000 square feet and consists of a combination of residential and commercial spaces.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $18,035,000
- Address: 178-184 Sixth Street & 172-176 Sixth Street, Passaic, NJ
- Market: Passaic, NJ
- Broker: Samaan Capital - Eli Samaan
- Loan Type: Construction Loan
Eli Samaan of Samaan Capital represented the parties involved in this transaction. Eli Samaan is a representative of Samaan Capital, a real estate agency specializing in commercial real estate financing.
For any inquiries regarding commercial real estate financing needs, you can contact Eli Samaan at 973-270-4542 or [email protected]. Further information about Samaan Capital can be found on their website at https://samaancapitalllc.com/.
Players
New Jersey 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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93