Updated Oct 28, 2024
Principal Financial Provides $16.2M Loan For Mixed-Use Property In Princeton
25 Spring Street, Princeton, NJ, USA
$16,200,000
$206/SF
Building Size
78,385 SF
Asset Type
Mixed-use
Closing
Apr 29, 2021
About this deal
AI
25 Spring Street and 55 Witherspoon Street, located in Princeton, were recently involved in a closed transaction. These mixed-use properties attracted attention in the market.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Date: 04/30/2021
- Loan Amount: $16,200,000
- Units: 81
The lender in this transaction was Principal Financial, represented by Daniel Joseph Houston. The landlords involved were Nassau HKT Associates and the Borough of Princeton. The brokerage firm NorthMarq, with broker Gary Cohen, facilitated the deal.
The mixed use loan at 25 Spring Street, Princeton, NJ, USA in Princeton, New Jersey financed for $16.2M in 2021. Reported inventory is 78,385 square feet across 81 units, or about 206 per square foot. Gary Cohen, Marcus & Millichap appear on the loan alongside Marcus & Millichap. This page is the Princeton, New Jersey file for the 25 Spring Street, Princeton, NJ, USA mixed use financed: pricing, party profiles, and other closed mixed use comps from the same Princeton sit in the Market section below. Filter that Princeton mixed use set by closing date to see what else financed near 25 Spring Street, Princeton, NJ, USA around 2021. Published consideration for 25 Spring Street, Princeton, NJ, USA is $16.2M, dated 2021. Cite this Principal Financial Provides $16.2M Loan For Mixed-Use Property In Princeton loan when underwriting similar mixed use product around Princeton, New Jersey.
Players
Princeton Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Deal FAQ
Visit Gary Cohen to view all their deals.
Browse New Jersey mixed use loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.98%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93