Updated Mar 11, 2025
Cross River Bank Provides $3.2M Loan For Mixed-Use Portfolio In Edgewater, Jersey City, And Wyckoff
2 Hilliard Avenue
$3,200,000
Building Size
—
Asset Type
Mixed-use
Closing
Oct 30, 2022
About this deal
AI
A mixed-use property portfolio comprising four properties located at 2 Hillard Ave, 56 Gifford Ave, 151-153 Delaware Ave, and 358 Godwin Ave has been closed in the markets of Edgewater, Jersey City, and Wyckoff. The transaction includes a loan from Cross River Bank for a total amount of $3,200,000.
Summary of transaction details
- Property Type: Mixed-Use (4 Property Portfolio)
- Transaction Amount: $3,200,000
- Market: Edgewater, Jersey City & Wyckoff
- Lender: Cross River Bank
- Broker: Frank Stanislaski represented by Progress Capital
The key individuals involved in this deal include Frank Stanislaski, who represented the buyer or seller in this transaction, and the brokerage firm Progress Capital.
Players
Edgewater 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