Updated Feb 16, 2024
Lakeland Bank Provides $2.1M Acquisition Loan For Rahway Multifamily Property
190 West Milton Avenue, Rahway, New Jersey 07065, United States
$2,100,000
$161/SF
Building Size
13,000 SF
Asset Type
MultiFamily
Closing
Dec 20, 2021
About this deal
AI
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
Rahway MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Caillin Boles to view all their deals.
Browse New Jersey multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93