Blue Foundry Bank Provides $13.1M Refinance Loan For Multifamily Property In East Orange
FINANCED
$13,100,000
New Jersey
See Similar DealsMultiFamily13,068 SF
Financed 09/07/2022
FINANCED
Blue Foundry Bank Provides $13.1M Refinance Loan For Multifamily Property In East Orange
129 Halsted Street
See Similar DealsMultiFamily13,068 SF
Financed 09/07/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$1,002
Total Square Footage:13,068 SF
Transaction Type:Loan
The asset involved in this transaction is a multifamily property located at 129 Halsted St., East Orange, NJ. This property features a total of 13,068 square feet and includes 60 units. The transaction was facilitated through a refinance loan amounting to $13,100,000 provided by Blue Foundry Bank.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $13,100,000
- Address: 129 Halsted St., East Orange, NJ
- Market: East Orange, NJ
- Asset Size: 13,068 SF
- Units: 60
- Lender: Blue Foundry Bank
- Landlord: Barberry Rose Management - Lewis Barbanel
- Broker: Brad Domenico - Progress Capital
- Loan Type: Refinance
Brad Domenico represented Progress Capital in this transaction, providing brokerage services throughout the refinancing process for Barberry Rose Management, led by Lewis Barbanel. For further discussions on commercial real estate financing needs, Brad can be contacted directly at (908) 433-7467 or [email protected].
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$13,100,000.00
Monthly NOI$87,333.33
Monthly Debt Service$82,800.91
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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