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185 West Kelly Street

Greystone Provides $15 Million Refinance Loan To Solar Prisim For Metuchen Multifamily Asset
FINANCEDMultiFamily

Greystone Provides $15 Million Refinance Loan To Solar Prisim For Metuchen Multifamily Asset

185 West Kelly Street

$15,000,000

$147/SF

Building Size

101,822 SF

Asset Type

MultiFamily

Closing

Apr 15, 2025

AI

The property involved in this transaction is located at 185 West Kelly Street, Metuchen. It is classified as a multifamily asset comprising 56 units, with a total square footage of 101,822. The loan amount for this refinance transaction is $15,000,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $15,000,000
  • Asset Address: 185 West Kelly Street
  • Market: Metuchen
  • Units: 56
  • Square Footage: 101,822
  • Lender: Greystone
  • Landlord: Solar Prisim
  • Broker Representatives: Bryan Grover & Miryam Reinitz-Kops - Greystone
  • Loan Type: Refinance

The key individuals involved in this transaction include Bryan Grover and Miryam Reinitz-Kops, who represent Greystone as the brokers for the deal. They played an essential role in the refinancing of the asset owned by Solar Prisim.

Players

Bryan Grover

Greystone

Broker

$6.1B

vol

35 deals

Broker
Greystone
GreystoneLender

Metuchen 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

1.06%

Cash-on-Cash

-0.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93