Realty Capital Finance Provides $1.125M Acquisition Loan For Mixed-Use Property In Newark, NJ
661 South 18th Street, Newark, New Jersey 07103, United States
$1,125,000
$166/SF
Building Size
6,744 SF
Asset Type
Mixed-use
Closing
Jun 6, 2022
AI
The mixed-use property located at 661 S. 18th St. in Newark, NJ has been involved in a closed transaction. The property spans a total square footage of 6,744 and is situated in the Newark market.
Summary of Transaction Details:
- Property Type: Mixed-use
- Transaction Amount: $1,125,000
- Loan Type: Acquisition
- Loan Terms: 75% LTV, 12 Months, 9% IO
The lender for this closed transaction was Realty Capital Finance, represented by Mark Safrin, Heshy Safrin, and Mo Weinberg. They provided a loan amount of $1,125,000 for the acquisition of the property.
Players
Newark 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
14.10%
Cash-on-Cash
-4.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93