Updated Feb 26, 2025
Sender Deutsch Secures $9M Construction Financing For 31-Unit Mixed-Use Building On Central Avenue, Jersey City
70 Central Ave, Jersey City, NJ 07306, USA
$9,000,000
$138/SF
Building Size
65,000 SF
Asset Type
Mixed-use
Closing
Jun 25, 2020
About this deal
AI
The closed property transaction involved a mixed-use building located at 70 Central Avenue in Jersey City. The transaction took place on June 26, 2020, with Steven Jemal, Robert Schwartz, and Sender Deutsch as the parties involved.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $9,000,000
- Address: 70 Central Avenue
- Market: Jersey City
- Lender: S3Capital
- Broker: Sender Deutsch – Metropolitan Mortgage
- Loan Type: Construction financing for a new 31-unit mixed-use building
- Size: 65,000 sqft
- Units: 31 residential, 1 commercial, and 32 parking spots
The financing for the construction of the new 31-unit mixed-use building was provided by S3Capital. Sender Deutsch, from Metropolitan Mortgage, served as the broker in the deal.
Players
Jersey 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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93