Updated Oct 29, 2024
New York Community Bank Provides $72M Loan For Multifamily Property In Aberdeen, NJ
1000 Central Avenue, Matawan, Aberdeen, NJ, USA
$72,000,000
$54,919/SF
Building Size
1,311 SF
Asset Type
MultiFamily
Closing
Apr 15, 2021
About this deal
AI
The multifamily property located at 1000 Central Avenue in Aberdeen, NJ was involved in a recent loan transaction. The property consists of 290 units and is owned by AJH Management.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $72,000,000
- Units: 290
- Lender: New York Community Bank - Thomas R. Cangemi
- Landlord: AJH Management
The loan was provided by New York Community Bank, with Thomas R. Cangemi representing the lender. The exact date of the loan transaction was 04/16/2021.
Players
Matawan 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
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93