Updated Oct 28, 2024
Arbor Realty Trust Refinances Multifamily Property In Newark, NJ For $9.2M
2-12 Hillside Avenue, Newark, NJ, USA
$9,200,000
$262/SF
Building Size
35,000 SF
Asset Type
MultiFamily
Closing
Sep 14, 2021
About this deal
AI
A multifamily property located at 2-12 Hillside Ave in Newark, NJ has undergone a refinancing transaction. The property consists of 71 units and is owned by Treacy Clinton LLC.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,200,000
- Loan Type: Refinance
- Lender: Arbor Realty Trust - Geoffrey Platt
- Broker: Pinchus Schwartz - Castling Capital Group
Geoffrey Platt, representing Arbor Realty Trust, provided the loan for the refinancing. Pinchus Schwartz from Castling Capital Group served as the broker for this transaction.
Players
Newark 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
1.72%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93