Joseph Belgiovine Of Providence Real Estate Advisors Represents Landlord In $6M Refinance Loan In Newark
1002 Broad Street
$6,000,000
$97/SF
Building Size
61,600 SF
Asset Type
Mixed-use
Closing
Jul 22, 2026
AI
The property is a mixed-use asset located at 1002 Broad Street in Newark, comprising 32 units with a total square footage of 61,600. A refinance loan amounting to $6,000,000 has been secured for this property.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $6,000,000
- Address: 1002 Broad Street
- Market: Newark
- Units: 32
- Square Footage: 61,600
- Loan Type: Refinance
- Landlord's Representative: Joseph Belgiovine - Providence Real Estate Advisors
The deal was facilitated by Joseph Belgiovine, who represents the landlord through Providence Real Estate Advisors, indicating a strategic move towards refinancing the mixed-use property.
Newark Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93