Updated Sep 9, 2024
Progress Capital Arranges $4.2M Loan For Mixed-Use Property At 236-238 Newark Avenue, Jersey City
236-238 Newark Avenue, Jersey City, NJ, USA
$4,200,000
$952/SF
Building Size
4,408 SF
Asset Type
Mixed-use
Closing
Dec 4, 2020
About this deal
AI
A mixed-use property located at 236-238 Newark Avenue in Jersey City has recently undergone a loan transaction. The property consists of 17 units and is situated in a thriving market in Jersey City.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $4,200,000
Brad Domenico from Progress Capital represented the parties involved in this loan transaction. As a reputable broker from Progress Capital, Brad Domenico played a key role in facilitating the deal.
The mixed use loan at 236-238 Newark Avenue, Jersey City, NJ, USA in Jersey City, New Jersey financed for $4.2M in 2020. Reported inventory is 4,408 square feet across 17 units, or about 952 per square foot. Brad Domenico, Progress Capital appear on the loan alongside Progress Capital. This page is the Jersey City, New Jersey file for the 236-238 Newark Avenue, Jersey City, NJ, USA mixed use financed: pricing, party profiles, and other closed mixed use comps from the same Jersey City sit in the Market section below. Filter that Jersey City mixed use set by closing date to see what else financed near 236-238 Newark Avenue, Jersey City, NJ, USA around 2020. Published consideration for 236-238 Newark Avenue, Jersey City, NJ, USA is $4.2M, dated 2020. Cite this Progress Capital Arranges $4.2M Loan For Mixed-Use Property At 236-238 Newark Avenue, Jersey City loan when underwriting similar mixed use product around Jersey City, New Jersey.
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
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93