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Denholtz Properties Acquires 143-Unit Multifamily Development In Bound Brook, NJ For $18M

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FINANCED
$18,000,000
SG
Steven Denholtz

New Jersey

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MultiFamily114,999 SF
Financed 08/11/2022
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Property Image
FINANCED

Denholtz Properties Acquires 143-Unit Multifamily Development In Bound Brook, NJ For $18M

100 Hamilton Street, Bound Brook, New Jersey 08805, United States

See Similar Deals
MultiFamily114,999 SF
Financed 08/11/2022
SG
Steven Denholtz
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$156
Total Square Footage:114,999 SF
Transaction Type:Loan

Simon Goldstein of Buckingham Advisors placed $18MM of equity to a 143-unit, Class A transit-oriented multifamily development located at 100 Hamilton St, Bound Brook. The multifamily asset spans approximately 114,999 square feet. The transaction took place on August 12, 2022.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $18,000,000
  • Address: 100 Hamilton St, Bound Brook
  • Square Footage: 114,999

Denholtz Properties and Redwood Real Estate Group partnered in a joint venture to develop this stylish and well-located multifamily property. Situated in an Opportunity Zone, the property provides residents with convenient access to transportation options.

Simon Goldstein of Buckingham Advisors acted as the broker in this equity transaction.

Players

SG
Buckingham Advisors
Simon Goldstein
7 deals$71.5M volume(646) 255-5276
BROKER
Steven Denholtz
Denholtz Properties
Steven Denholtz
13 deals$227.3M volume
BROKER
Steven Denholtz
Denholtz Properties
Steven Denholtz
13 deals$227.3M volume
LANDLORD

Details

FINANCED
IMAGE: Steven Denholtz & Simon Goldstein DATE: 08/12/2022 ADDRESS: 100 Hamilton St MARKET: Bound Brook ASSET TYPE: Multifamily ~ SF: 114,999 LANDLORD: Denholtz Properties (@DenholtzProperties)- Steven Denholtz (@StevenDenholtz) BROKER: Simon Goldstein (@SimonGoldstein) - Buckingham Advisors LOAN AMOUNT: $18,000,000 LOAN TYPE: Equity NOTE FROM BROKER: This is an equity transaction Simon Goldstein of Buckingham Advisors placed $18MM of equity to a 143-unit, Class A transit-oriented multifamily development located in an Opportunity Zone in Bound Brook, NJ. The developer is a joint venture between Denholtz Properties, and Redwood Real Estate Group.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$18,000,000.00

Monthly NOI$120,000.00
Monthly Debt Service$113,772.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00