Progress Capital Arranges $9.55M Construction Loan For Multifamily Property In Bayonne, NJ
FINANCED
$9,550,000
New Jersey
See Similar DealsMultiFamily21,344 SF
Financed 03/30/2022
FINANCED
Progress Capital Arranges $9.55M Construction Loan For Multifamily Property In Bayonne, NJ
175 West 7th Street, Bayonne, New Jersey 07002, United States
See Similar DealsMultiFamily21,344 SF
Financed 03/30/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$447
Total Square Footage:21,344 SF
Transaction Type:Loan
The multifamily property located at 175 West 7th Street in Bayonne, NJ has recently been involved in a loan transaction. The property spans 21,344 square feet and consists of 56 units. The loan was secured for the purpose of construction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,550,000
- Address: 175 West 7th Street
- Market: Bayonne, NJ
- Total Square Feet: 21,344
- Number of Units: 56
The loan for this property was provided by Trevian Capital. The landlords of the property are Abraham Gagin and Eyal Gagin. The brokers involved in the deal were Brad Domenico and Frank Stanislaski from Progress Capital.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,550,000.00
Monthly NOI$63,666.67
Monthly Debt Service$60,362.50
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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