AI Capital Lending Provides $3.44M Construction Loan For Mixed-Use Property In Bergen County NJ
FINANCED
$3,440,000
New Jersey
See Similar DealsMixed-use24,450 SF
Financed 03/06/2025
FINANCED
AI Capital Lending Provides $3.44M Construction Loan For Mixed-Use Property In Bergen County NJ
Mixed-use24,450 SF
Financed 03/06/2025
Summary
NEW JERSEY
Asset Type:Mixed-use
Price Per Square Foot:$140
Total Square Footage:24,450 SF
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,440,000.00
Monthly NOI$22,933.33
Monthly Debt Service$21,743.14
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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