THG Properties Acquires Multifamily Property In Hillside, NJ For $6M
1510 North Broad Street, Hillside, New Jersey 07205, United States
$6,000,000
$176/SF
Building Size
33,976 SF
Asset Type
MultiFamily
Closing
Jan 6, 2022
AI
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
Hillside 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
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93