Northfield Provides $14M Loan For Multifamily Property In Central Jersey
1-140 Warrenville Road, Middlesex, NJ, USA
$14,000,000
$94/SF
Building Size
148,540 SF
Asset Type
MultiFamily
Closing
May 3, 2021
AI
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.
Players
Middlesex MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93