Northfield Provides $14M Loan For Multifamily Property In Central Jersey
FINANCED
$14,000,000
New Jersey
See Similar DealsMultiFamily148,540 SF
Financed 05/04/2021
FINANCED
Northfield Provides $14M Loan For Multifamily Property In Central Jersey
1-140 Warrenville Road, Middlesex, NJ, USA
See Similar DealsMultiFamily148,540 SF
Financed 05/04/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$94
Total Square Footage:148,540 SF
Transaction Type:Loan
Located at 1-140 Warrenville Road in Central Jersey, this closed transaction involved a multifamily property. The loan for this transaction was provided by Northfield for a total amount of $14,000,000. The loan terms included a cash out refinance with a 3.0% interest rate, offered by a balance sheet lender.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $14,000,000
- Address: 1-140 Warrenville Road
- Market: Central Jersey
Representing the deal as brokers were Jeff Feldman and Aaron Rosenfeld from AANDAR Real Estate Capital.
Note: No additional information about the property or individuals involved in the transaction was provided.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$14,000,000.00
Monthly NOI$93,333.33
Monthly Debt Service$88,489.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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