Updated Sep 11, 2025
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
About this deal
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
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