Eric Panecki & Jack Bergen Of Brick City Capital Provide $1.86M Refinance Loan In Newark NJ
FINANCED
$1,856,250
New Jersey
See Similar DealsMultiFamily5,088 SF
Financed 08/10/2024
FINANCED
Eric Panecki & Jack Bergen Of Brick City Capital Provide $1.86M Refinance Loan In Newark NJ
107 West Grant Street
See Similar DealsMultiFamily5,088 SF
Financed 08/10/2024
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$364
Total Square Footage:5,088 SF
Transaction Type:Loan
The asset involved in this transaction is a multifamily property located at 107 West Grant Street, Newark, NJ. The total square footage of the property is 5,088. It is noteworthy that this loan is structured as a refinance.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,856,250
- Loan Type: Refinance
- Loan Terms: 30 years 75% LTV
- Lender: Eric Panecki & Jack Bergen - Brick City Capital
Key individuals involved in the transaction include Eric Panecki and Jack Bergen, who represent Brick City Capital as the lenders for this loan. Their role is crucial in facilitating the refinance of the multifamily property, ensuring that the terms align with the financial objectives of the borrower.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,856,250.00
Monthly NOI$12,375.00
Monthly Debt Service$11,732.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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