Updated Oct 29, 2024
S3 Capital Partners Provides $39M Loan For Mixed-Use Property In West New York
4901 Bergenline Ave, West New York, NJ, USA
$39,000,000
$371/SF
Building Size
105,000 SF
Asset Type
Mixed-use
Closing
Jul 16, 2018
About this deal
AI
The mixed-use property located at 4901 Bergenline Ave in West New York has been involved in a recent closed transaction. The property spans across 105,000 square feet and comprises of 97 residential units and 4 commercial units. The deal, which took place on July 17, 2018, involved financing through a construction loan.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $39,000,000
- Lender: S3 Capital Partners - Robert Schwartz CEO
- Brokers: Steven Jemal - S3 Capital
- Landlord: Bergenline Capital 5112 - Ray Grabato
- Loan Term: 3 years
- Loan-to-Cost: 80%
The financing was provided by S3 Capital Partners, with Robert Schwartz serving as the CEO. The loan, amounting to $39,000,000, has a term of 3 years and a loan-to-cost ratio of 80%. Steven Jemal, representing S3 Capital, acted as the broker for the deal. The landlord involved in the transaction is Bergenline Capital 5112, represented by Ray Grabato.
Players
West New York 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
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93