Titanium Realty Group Secures $13.6M Construction Loan For Multifamily Property In Jersey City
FINANCED
$13,600,000
New Jersey
See Similar DealsMultiFamily41,200 SF
Financed 07/06/2023
FINANCED
Titanium Realty Group Secures $13.6M Construction Loan For Multifamily Property In Jersey City
179 Academy St Jersey City, NJ 07306, USA
See Similar DealsMultiFamily41,200 SF
Financed 07/06/2023
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$330
Total Square Footage:41,200 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$13,600,000.00
Monthly NOI$90,666.67
Monthly Debt Service$85,961.25
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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