Updated Oct 28, 2024
Realty Capital Finance LLC Provides $1.4M Loan For Multifamily Acquisition In Newark, NJ
158 Clinton Place, Newark, New Jersey 07112, United States
$1,425,000
$158/SF
Building Size
9,000 SF
Asset Type
MultiFamily
Closing
Jun 16, 2022
About this deal
AI
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
Newark 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
11.13%
Cash-on-Cash
-3.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93