Hekemian & Co., Inc. Refinances Multifamily Property In Hackensack For $78M
18 East Camden Street, Hackensack, New Jersey 07601, United States
$78,000,000
Units
254
Asset Type
MultiFamily
Closing
May 1, 2022
AI
Located at 18 E Camden St in Hackensack, this multifamily property consists of 254 units. The property was recently involved in a loan transaction.
Summary of transaction details:
- Property Type: Multifamily
- Loan Amount: $78,000,000
- Loan Type: Refinance
The loan for this transaction was provided by New York Life Real Estate Investors. The landlord of the property is Brickyard Urban Renewal, LLC, an affiliate of Hekemian & Co., Inc. The deal was facilitated by brokers Thomas Didio, Thomas E. Didio, Jr., & Gerard Quinn from JLL.
Players
Hackensack 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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93