Titanium Realty Group Secures $13.6M Construction Loan For Multifamily Property In Jersey City
179 Academy St Jersey City, NJ 07306, USA
$13,600,000
$330/SF
Building Size
41,200 SF
Asset Type
MultiFamily
Closing
Jul 6, 2023
AI
Titanium Realty Group, owned by Diego Hodara, has secured a $13,600,000 construction loan for a multifamily property located at 179 Academy Street in Jersey City, NJ. The property spans 41,200 square feet and consists of 50 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $13,600,000
- Address: 179 Academy Street, Jersey City, NJ
- Size: 41,200 square feet
- Number of Units: 50
The lender for this construction loan is WSFS Bank, while the broker representing Diego Hodara and Titanium Realty Group in this deal is Brad Domenico of Progress Capital.
Players
New Jersey 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
1.17%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93