Updated Mar 11, 2025
Arbor Commercial Mortgage Provides $12.5M Acquisition Loan For East Orange Multifamily
129 Halsted Street, East Orange, NJ, USA
$12,500,000
$2/SF
Building Size
5,651,325 SF
Asset Type
MultiFamily
Closing
Nov 4, 2020
About this deal
AI
Arbor Commercial Mortgage has provided a $12,500,000 acquisition loan for a multifamily property located at 129 Halstead Street in East Orange. The transaction took place on November 5, 2020.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $12,500,000
- Lender: Arbor Commercial Mortgage
- Broker: Brad Domenico - Progress Capital
- Market: East Orange
The loan facilitated the acquisition of the property, providing the necessary funds for the transaction. Brad Domenico from Progress Capital acted as the broker representing the buyer in the deal.
Players
East Orange 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
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93