Updated Oct 28, 2024
TD Bank Provides $1.75M Refinance Loan For Multifamily Property In Avenel, NJ
101-109 Piper Avenue, Avenel, NJ, USA
$1,750,000
$70/SF
Building Size
25,000 SF
Asset Type
MultiFamily
Closing
Dec 9, 2021
About this deal
AI
Located at 101-109 Piper Place in Avenel, NJ, this closed property transaction involved a multifamily asset comprising 9 townhouses, with a total square footage of 25,000. The transaction took place on 12/09/2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,750,000
- Address: 101-109 Piper Place, Avenel, NJ
- Market: Avenel, NJ
- Units: 9 Townhouses
The lender in this transaction was TD Bank, providing a refinancing loan for the property. The landlord involved in the deal was Stuart Wainberg, the owner of Wainco Realty. The brokers responsible for the transaction were Frank Stanislaski and Gabby Cali from Progress Capital.
On the Map
$1,750,000
$70/SF
MultiFamily
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Players
Avenel 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
9.06%
Cash-on-Cash
-2.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93