Updated Dec 14, 2024
Valley National Bank Provides $2.7M Refinance Loan For Mixed-Use Property In Union City, NJ
4401 Bergenline Avenue, Union City, NJ 07087
$2,700,000
$268/SF
Building Size
10,072 SF
Asset Type
Mixed-use
Closing
Sep 8, 2021
About this deal
AI
A mixed-use property located at 4401-4403 Bergenline Avenue in Union City, NJ, has recently undergone a refinancing transaction. The property, which features a combination of residential and commercial spaces, was involved in a deal that took place on September 8, 2021.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $2,700,000
- Lender: Valley National Bank
- Brokers: Brad Domenico & Frank Stanislaski - Progress Capital
- Date: 09/08/2021
- Market: Union City, NJ
The refinancing was facilitated by Valley National Bank, while the brokerage services were provided by Brad Domenico and Frank Stanislaski of Progress Capital. The transaction involved a loan amount of $2,700,000 and aimed to restructure the property's existing financing arrangements.
Players
Union 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