Updated Apr 1, 2025
AI Capital Lending Provides $3.44M Construction Loan For Mixed-Use Property In Bergen County NJ
$3,440,000
$140/SF
Building Size
24,450 SF
Asset Type
Mixed-use
Closing
Mar 6, 2025
About this deal
AI
A construction loan was closed for a mixed-use property totaling 24,450 square feet located in Bergen County, New Jersey. The property is situated within a market characterized by diverse development opportunities. The loan is aimed at facilitating ground-up construction on this asset.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,440,000
- Lender: Anthony R. Iervolino - AI Capital Lending
- Loan Type: Construction
The transaction was executed under the oversight of Anthony R. Iervolino from AI Capital Lending, who provided the funding necessary for the project's development. This deal underscores the lender's commitment to supporting development initiatives in Bergen County.
Market Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Deal FAQ
Visit Anthony R. Iervolino to view all their deals.
Browse New Jersey mixed use loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.61%
Cash-on-Cash
-1.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93