Sheridan Capital Provides $10 Million Bridge Loan For Mixed-Use Property In Jersey City
FINANCED
$10,000,000
New Jersey
See Similar DealsMixed-use1 SF
Financed 11/22/2024
FINANCED
Sheridan Capital Provides $10 Million Bridge Loan For Mixed-Use Property In Jersey City
953 Garfield Avenue
See Similar DealsMixed-use1 SF
Financed 11/22/2024
Summary
NEW JERSEY
Asset Type:Mixed-use
Price Per Square Foot:$10,000,000
Total Square Footage:1 SF
Transaction Type:Loan
The property asset involved in this transaction is a mixed-use building located at 953 Garfield Avenue in Jersey City. The loan amount secured for this asset is $10,000,000 provided by Sheridan Capital, with a loan type classified as Bridge.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $10,000,000
- Lender: Sheridan Capital
- Loan Date: 11/22/2024
- Market: Jersey City
This deal features Sheridan Capital as the lender, facilitating the financial requirements of the transaction. The loan serves a specific aspect of the property's development or operational needs, aligning with trends in the mixed-use market of Jersey City.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,000,000.00
Monthly NOI$66,666.67
Monthly Debt Service$63,206.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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