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.
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