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Bravo Property Trust Provides $169.3M Construction Loan For West Side Avenue Multifamily

Property Image
FINANCED
$169,300,000

New Jersey

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MultiFamily415,000 SF
Financed 06/21/2024
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FINANCED

Bravo Property Trust Provides $169.3M Construction Loan For West Side Avenue Multifamily

1075 West Side Avenue

See Similar Deals
MultiFamily415,000 SF
Financed 06/21/2024
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$408
Total Square Footage:415,000 SF
Transaction Type:Loan

The multifamily property located at 1075 West Side Avenue in Jersey City spans 415,000 square feet and consists of 477 units. The recent closed transaction involved a construction loan valued at $169,300,000 provided by Gabi Moshayev, Aaron Krawitz, and Aidan Birnbaum from Bravo Property Trust. The West Side Square Development Fund acted as the landlord for this deal.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $169,300,000
  • Units: 477
  • Square Footage: 415,000
  • Address: 1075 West Side Avenue
  • Market: Jersey City
  • Lender: Gabi Moshayev, Aaron Krawitz & Aidan Birnbaum - Bravo Property Trust
  • Loan Type: Construction Loan
  • NOTE FROM LENDER: For financing reach out to [email protected]

The key individuals involved in this transaction were Gabi Moshayev, Aaron Krawitz, and Aidan Birnbaum from Bravo Property Trust, who provided the construction loan. The West Side Square Development Fund served as the landlord for the property. For financing inquiries, interested parties can contact [email protected].

Players

LENDER

Details

FINANCED
IMAGE: Aidan Birnbaum & Gabi Moshayev DATE: 06/21/2024 ADDRESS: 1075 West Side Avenue MARKET: Jersey City ASSET TYPE: Multifamily ~ UNITS: 477 ~ SF: 415,000 LENDER: Gabi Moshayev, Aaron Krawitz & Aidan Birnbaum - Bravo Property Trust (https://bravopropertytrust.com/) LANDLORD: West Side Square Development Fund LOAN AMOUNT: $169,300,000 LOAN TYPE: Construction Loan NOTE FROM LENDER: For financing reach out to [email protected]

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$169,300,000.00

Monthly NOI$1,128,666.67
Monthly Debt Service$1,070,091.16
Change in Cash Flow$0.00
Refinance Proceeds$0.00