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1377 Us 206

Updated Apr 1, 2026

Country Classics Secures $31M Loan From New York Life For Multifamily Community In Montgomery Township
FINANCEDMultiFamily

Country Classics Secures $31M Loan From New York Life For Multifamily Community In Montgomery Township

1377 Us 206

$31,000,000

Units

115

Asset Type

MultiFamily

Closing

Mar 31, 2026

About this deal

AI

The Somerset at Montgomery is a 115-unit multifamily community located at 1377 Route 206, Montgomery Township. The asset includes 92 market-rate and 23 affordable apartments. It features amenities such as EV chargers, private balconies, a fitness center, and an extensive parking facility with 220 spaces. The property, delivered in 2024, is situated near downtown Princeton and the upcoming Montgomery Promenade retail center.

Summary of transaction details:

The permanent financing of $31M was arranged by CBRE. This financing was secured from New York Life, reflecting the property's potential in the Montgomery Township market.

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$31,000,000

MultiFamily

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Players

Matthew Pizzolato

CBRE

Broker

$1.5B

vol

38 deals

Broker
New York Life
New York LifeLender

Princeton MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $269.6K per unit across 115 units on a published $31M (2026).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.51%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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