Updated Mar 14, 2025
LIHC Investment Group And L&M Fund Management Secure $52.9M Refinance Loan For Multifamily In Jersey City
100 Montgomery Street
$52,900,000
Units
308
Asset Type
MultiFamily
Closing
Mar 13, 2025
About this deal
AI
The Montgomery Paulus Hook is a multifamily asset located at 100 Montgomery Street in Jersey City, comprised of 308 units. The property has secured a refinance loan amounting to $52,900,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $52,900,000
- Lender: Dan Lyons - Rockport Mortgage Corporation
- Landlord: Charlie & Andrew Gendron - LIHC Investment Group; Ron Moelis & Joe Weishaar - L+M Fund Management
- Loan Type: Refinance
LIHC Investment Group and L+M Fund Management are engaged in property upgrades with the refinancing loan, focusing on common area renovations and unit improvements while maintaining affordable housing options for residents.
On the Map
$52,900,000
MultiFamily
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Players
Jersey City 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
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93