Greystone Provides $15 Million Refinance Loan To Solar Prisim For Metuchen Multifamily Asset
FINANCED
$15,000,000
New Jersey
See Similar DealsMultiFamily101,822 SF
Financed 04/16/2025
FINANCED
Greystone Provides $15 Million Refinance Loan To Solar Prisim For Metuchen Multifamily Asset
185 West Kelly Street
See Similar DealsMultiFamily101,822 SF
Financed 04/16/2025
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$147
Total Square Footage:101,822 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$15,000,000.00
Monthly NOI$100,000.00
Monthly Debt Service$94,810.20
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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