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115 Maple Avenue, Montclair...

Nuray Yurt Acquires Multifamily Property In Montclair, NJ With $937,500 Loan From Connect One Bank
FINANCEDMultiFamily

Nuray Yurt Acquires Multifamily Property In Montclair, NJ With $937,500 Loan From Connect One Bank

115 Maple Avenue, Montclair, New Jersey 07042, United States

$937,500

$205/SF

Building Size

4,560 SF

Asset Type

MultiFamily

Closing

Apr 6, 2022

AI

The multifamily property located at 115 Maple Avenue in Montclair, NJ has been involved in a recent transaction. This property spans approximately 4,560 square feet and consists of 6 units. The transaction took place on 04/07/2022.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $937,500
  • Address: 115 Maple Avenue
  • Market: Montclair, NJ
  • Square Footage: 4,560
  • Number of Units: 6

Nuray Yurt is the landlord of this property. The loan for the acquisition was provided by Connect One Bank. The loan amount is $937,500. The broker representing the transaction is Gabby Cali from Progress Capital.

Players

Gabby Cali

Cali Capital

Broker

$161.1M

vol

35 deals

Broker
Progress Capital
Progress CapitalBrokerage
ConnectOne Bank
ConnectOne BankLender

Nuray Yurt

Landlord

$7.4M

vol

2 deals

Landlord

Montclair MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

16.92%

Cash-on-Cash

-4.84%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93