Updated Oct 28, 2024
HSB Bank Provides $2.1M Acquisition Loan For Multifamily Property In Kearny, NJ
175 Chestnut Street, Kearny, New Jersey 07032, United States
$2,100,000
$175/SF
Building Size
12,000 SF
Asset Type
MultiFamily
Closing
Jun 1, 2022
About this deal
AI
The multifamily property located at 175 Chestnut St in Kearny has been recently involved in a closed transaction. The property consists of 12 units and spans across 12,000 square feet.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,100,000
- Address: 175 Chestnut St
- Market: Kearny
- Units: 12
- Square Footage: 12,000
The loan for this transaction was provided by HSB Bank. Chesnut Gardens LLC, managed by JAG Management, acted as the landlord. The acquisition of the property was facilitated by Eli Schwartz of Acadia Funding.
Note from @RedwoodRealty: JAG Management, located in Kearny, NJ, is actively seeking multifamily deals of any size in the surrounding area. For inquiries, contact 732-508-7584.
Players
Kearny 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
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93