Kearny Bank Provides $8.3M Refinance Loan For Mixed-Use Property In Jersey City
FINANCED
$8,300,000
New Jersey
See Similar DealsMixed-use25,000 SF
Financed 09/09/2022
FINANCED
Kearny Bank Provides $8.3M Refinance Loan For Mixed-Use Property In Jersey City
233-237 Newark Avenue
See Similar DealsMixed-use25,000 SF
Financed 09/09/2022
Summary
NEW JERSEY
Asset Type:Mixed-use
Price Per Square Foot:$332
Total Square Footage:25,000 SF
Transaction Type:Loan
The property involved in this transaction is a mixed-use asset located at 233-237 Newark Avenue in Jersey City, NJ, with a total square footage of 25,000. A loan amount of $8,300,000.00 was secured for refinancing purposes.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $8,300,000.00
- Lender: Kearny Bank
- Broker: Jake Lapidot - Cooper-Horowitz
- Loan Type: Refinance
The transaction was facilitated by broker Jake Lapidot, who represents Cooper-Horowitz in this deal. The lender for the financing was Kearny Bank, indicating their role in providing the necessary funds for the refinancing of the property.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,300,000.00
Monthly NOI$55,333.33
Monthly Debt Service$52,461.65
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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