Updated Dec 4, 2024
Bravo Property Trust Provides $169.3M Construction Loan For West Side Avenue Multifamily
1075 West Side Avenue
$169,300,000
$408/SF
Building Size
415,000 SF
Asset Type
MultiFamily
Closing
Jun 21, 2024
About this deal
AI
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
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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93