Emil DePasquale Brokers $4.15M Refinance For Mixed-Use Property In Colts Neck
$4,150,000
$107/SF
Building Size
38,675 SF
Asset Type
Mixed-use
Closing
Mar 1, 2024
AI
The mixed-use property located at 317 State Route 34 in Colts Neck, NJ, spans 38,675 square feet and was recently refinanced for a total loan amount of $4,150,000. The refinancing was facilitated by Manasquan Bank, with Emil DePasquale of Black Bear Capital Partners serving as the broker in the transaction.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,150,000
- Lender: Manasquan Bank
- Broker: Emil DePasquale - Black Bear Capital Partners
- Loan Type: Refinance
- Loan Terms: 5-year fixed-rate loan
The key individuals involved in the deal include Emil DePasquale from Black Bear Capital Partners, who represented the parties in the refinancing process.
Market 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
3.82%
Cash-on-Cash
-1.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93