Updated Mar 17, 2026
Tamer M Tamer Secures $1.8M Refinance Loan On Mixed-use Property In Elizabeth
89-93 Elmora Avenue
$1,800,000
$289/SF
Building Size
6,224 SF
Asset Type
Mixed-use
Closing
Feb 26, 2026
About this deal
AI
The property involved in this transaction is a mixed-use asset located at 89-93 Elmora Avenue in Elizabeth. The asset comprises 8 units and spans 6,224 square feet. The loan amount for the refinancing is $1,800,000, with loan terms structured as 5+5.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,800,000
- Lender: Donald Jacquin - Kearny Bank
- Landlord: Tamer M Tamer
- Landlord's Attorney: Naftaly Weisz - Weisz & Associates PLLC
- Mortgage Broker: David Glauber - Sterling Capital Solutions Inc
- Loan Type: Refinance
- Loan Terms: 5+5
Key individuals involved in this transaction include the lender Donald Jacquin representing Kearny Bank and mortgage broker David Glauber who represents Sterling Capital Solutions Inc. The legal aspect is overseen by Naftaly Weisz from Weisz & Associates PLLC, representing the landlord, Tamer M Tamer, in this refinancing deal.
Players
Elizabeth 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
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93