Harbor Group International Provides $44.6M Loan For Multifamily Property Acquisition At 1 W Dickerson St In Dover, NJ
1 West Dickerson Street, Dover, NJ, USA
$44,600,000
$44,334/SF
Building Size
1,006 SF
Asset Type
MultiFamily
Closing
Mar 7, 2021
AI
Located at 1 W Dickerson St in Dover, NJ, this closed transaction involved a multifamily property. The loan was provided by Harbor Group International, LLC (HGI), with Richard Litton representing the lender. The brokers involved in the deal were Jake Handelsman and Josh Munk from Meridian Capital Group.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $44,600,000
- Address: 1 W Dickerson St, Dover, NJ
- Market: Dover, NJ
The loan terms for this transaction included floating-rate loans with full-term interest-only payments. The multifamily property consists of 214 units.
It is important to note that no additional information about the property or individuals involved in the transaction was provided.
Players
Dover MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93