Realty Capital Finance LLC Provides $1.4M Loan For Multifamily Acquisition In Newark, NJ
FINANCED
$1,425,000
New Jersey
See Similar DealsMultiFamily9,000 SF
Financed 06/17/2022
FINANCED
Realty Capital Finance LLC Provides $1.4M Loan For Multifamily Acquisition In Newark, NJ
158 Clinton Place, Newark, New Jersey 07112, United States
See Similar DealsMultiFamily9,000 SF
Financed 06/17/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$158
Total Square Footage:9,000 SF
Transaction Type:Loan
The multifamily property located at 158 Clinton Pl. in Newark, NJ has recently been involved in a closed transaction. The property spans approximately 9,000 square feet and consists of 7 units. The transaction took place on June 17, 2022.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $1,425,000
- Market: Newark, NJ
- Loan Type: Acquisition
- Loan Terms: 75% LTV, 12 Months, 9% IO
The loan for this transaction was provided by Realty Capital Finance LLC, represented by Mark Safrin, Heshy Safrin, and Mo Weinberg. The loan amount for the acquisition of the property was $1,425,000. The loan terms include a 75% loan-to-value ratio and a 12-month term with 9% interest-only payments.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,425,000.00
Monthly NOI$9,500.00
Monthly Debt Service$9,006.97
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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