THG Properties Acquires Multifamily Property In Hillside, NJ For $6M
FINANCED
$6,000,000
New Jersey
See Similar DealsMultiFamily33,976 SF
Financed 01/06/2022
FINANCED
THG Properties Acquires Multifamily Property In Hillside, NJ For $6M
1510 North Broad Street, Hillside, New Jersey 07205, United States
See Similar DealsMultiFamily33,976 SF
Financed 01/06/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$176
Total Square Footage:33,976 SF
Transaction Type:Loan
The property involved in this transaction is a multifamily asset located at 1510 N. Broad Street in Hillside, NJ. It spans a total square footage of 33,976 and comprises 48 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,000,000
- Address: 1510 N. Broad Street, Hillside, NJ
- Market: Hillside, NJ
The lender in this deal is Lakeland Bank. The landlord, THG Properties, is represented by Dean Serratelli as their broker. Brad Domenico and Eddie Miro from Progress Capital served as the brokers in this transaction.
The loan amount for this acquisition was $6,000,000.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,000,000.00
Monthly NOI$40,000.00
Monthly Debt Service$37,924.08
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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