Signature Bank Provides $8.5M Refinance Loan For Mixed-Use Property In North Bergen, NJ
Kennedy Boulevard, North Bergen, NJ
$8,500,000
$63/SF
Building Size
135,000 SF
Asset Type
Mixed-use
Closing
Nov 16, 2022
AI
The mixed-use property located on Kennedy Boulevard in North Bergen, NJ has undergone a loan transaction. The property spans 135,000 square feet.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $8,500,000
- Loan Type: Refinance
The loan was provided by Signature Bank, with Mark Krowling and Joe Fingerman representing the bank. The brokers involved in the transaction were Morris Diamant and David Liechtung from Meridian Capital Group.
Players
North Bergen 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
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93