Updated Oct 5, 2026
S3 Capital Partners Provides $10 Million Construction Loan For Mixed-Use Property In Jersey City
155 Newark Avenue
$10,000,000
$455/SF
Building Size
21,973 SF
Asset Type
MultiFamily
Closing
Jul 22, 2024
About this deal
AI
The property involved in this transaction is a mixed-use asset located at 155 Newark Avenue in Jersey City, NJ. The building consists of 27 residential units and 1 ground floor retail space, spanning a total of 21,973 square feet.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $10,000,000
- Loan Type: Construction
- Lender: S3 Capital Partners
- Mortgage Broker: John Libretti - Progress Capital
- Co-Brokers: Eric Panecki, Matt Neptun & David Choi - Brick City Capital
The key individuals involved in this transaction include John Libretti, representing Progress Capital as the mortgage broker. The deal also features co-brokers Eric Panecki, Matt Neptun, and David Choi from Brick City Capital, each playing a role in facilitating the loan agreement for this mixed-use property.
On the Map
$10,000,000
$455/SF
MultiFamily
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Players
Jersey City 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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93