NorthMarq Secures $7.8 Million Refinance For 39-Unit Multifamily Property In Jersey City
117 Wade Street
$7,800,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 6, 2025
AI
A 39-unit mid-rise apartment property located at 117 Wade Street in Jersey City, New Jersey, was refinanced for a total loan amount of $7,800,000. This multifamily asset is positioned in a competitive market, benefiting from the demand for residential units in the area.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,800,000
- Loan Type: Refinance
- Loan Terms: five-year, fixed-rate
- Brokers: Eli Levenfeld & Dylan Hamer - NorthMarq
- Market: Jersey City
- Units: 39
NorthMarq was instrumental in arranging the refinancing for this property, securing the loan through a life insurance company on behalf of the borrower, ensuring favorable terms for the transaction.
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
2.03%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93