Updated Sep 9, 2024
Meridian Capital Group Arranges $2.7M Refinance Loan For Mixed-Use Property In Jersey City
216 Newark Avenue, Jersey City, New Jersey 07302, United States
$2,700,000
$225/SF
Building Size
12,000 SF
Asset Type
Mixed-use
Closing
Jun 28, 2022
About this deal
AI
The mixed-use property located at 216-218 Newark Avenue in Jersey City, NJ has been refinanced for a loan amount of $2,700,000. The property spans approximately 12,000 square feet and is a part of the market in Jersey City.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $2,700,000
- Address: 216-218 Newark Avenue, Jersey City, NJ
- Market: Jersey City, NJ
- Loan Type: Refinance
- Loan Terms: 30-year term
The loan for this property was facilitated by Matt Buggenhagen and Jason Labriola from the Meridian Capital Group.
Players
Jersey City 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
5.88%
Cash-on-Cash
-1.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93