Updated Sep 9, 2024
Meridian Capital Group Secures $2.7M Refinance Loan For Mixed-Use Property In Jersey City, NJ
216 Newark Avenue
$2,700,000
$225/SF
Building Size
12,000 SF
Asset Type
Mixed-use
Closing
Jun 9, 2022
About this deal
AI
A mixed-use property located at 216-218 Newark Avenue in Jersey City, NJ has recently undergone a refinancing transaction. The property spans approximately 12,000 square feet and features a combination of residential and commercial units. The transaction was facilitated by Matt Buggenhagen and Jason Labriola from Meridian Capital Group.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,700,000
- Loan Type: Refinance
- Loan Terms: 30-year term
The refinancing deal was successfully executed, providing the property owners with a loan amount of $2,700,000. The loan terms include a 30-year repayment period. Matt Buggenhagen and Jason Labriola, representing Meridian Capital Group, played a crucial role in facilitating the transaction.
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