Lakeland Bank Provides $2.1M Acquisition Loan For Rahway Multifamily Property
FINANCED
$2,100,000
New Jersey
See Similar DealsMultiFamily13,000 SF
Financed 12/20/2021
FINANCED
Lakeland Bank Provides $2.1M Acquisition Loan For Rahway Multifamily Property
190 West Milton Avenue, Rahway, New Jersey 07065, United States
See Similar DealsMultiFamily13,000 SF
Financed 12/20/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$161
Total Square Footage:13,000 SF
Transaction Type:Loan
The multifamily property located at 190-200 Milton Avenue in Rahway, NJ was recently involved in a transaction. The property spans across 13,000 square feet and consists of 27 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,100,000
- Address: 190-200 Milton Avenue, Rahway, NJ
- Market: Rahway, NJ
- Loan Type: Acquisition
The loan for this transaction was provided by Lakeland Bank. The loan amount was $2,100,000. Seth Martinez is the landlord of the property. The broker involved in the deal was Caillin Boles from Progress Capital.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,100,000.00
Monthly NOI$14,000.00
Monthly Debt Service$13,273.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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