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Kew Management Corp. Refinances Ridgewood Multifamily For $7.5M

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FINANCED
$7,500,000
Jacob Kaufman
Allan Lieberman
Asher Haft

New Jersey

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MultiFamily
Financed 10/19/2021
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Property Image
FINANCED

Kew Management Corp. Refinances Ridgewood Multifamily For $7.5M

125-161 South Maple Avenue, Ridgewood, NJ, USA

See Similar Deals
MultiFamily
Financed 10/19/2021
Jacob Kaufman
Allan Lieberman
Asher Haft
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan

A $7,500,000 loan has been obtained for the refinance of a multifamily property located at 125-161 S. Maple Avenue in Ridgewood, NJ. The property consists of 54 units and is owned by Kew Management Corp.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $7,500,000
  • Loan Type: Refinance
  • Loan Term: 7+3 years Interest Only
  • Interest Rate: 2.72%

The loan was secured from a local bank lender. The deal was facilitated by brokers Allan Lieberman, Asher Haft, and Jacob Kaufman from Meridian Capital Group.

Players

Asher Haft
Meridian Capital Group
Asher Haft
10 deals$190.4M volume
BROKER
Jacob Kaufman
HKS Real Estate Advisors
Jacob Kaufman
11 deals$234.8M volume
BROKER
Allan Lieberman
Meridian Capital Group
Allan Lieberman
16 deals$216.5M volume
BROKER
KC
Kew Management Corp.
LANDLORD

Details

FINANCED
IMAGE: Asher Haft, Allan Lieberman & Jacob Kaufman DATE: 10/19/2021 ADDRESS: 125-161 S. Maple Avenue MARKET: Ridgewood, NJ ASSET TYPE: Multifamily ~ UNITS: 54 LANDLORD: Kew Management Corp. BROKERS: Allan Lieberman (@allanlieb), Asher Haft & Jacob Kaufman - Meridian Capital Group LOAN AMOUNT: $7,500,000 LOAN TYPE: Refinance LOAN TERM: 7+3 years Interest Only, and rate of 2.72%, local bank lender

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$7,500,000.00

Monthly NOI$50,000.00
Monthly Debt Service$47,405.10
Change in Cash Flow$0.00
Refinance Proceeds$0.00