Arbor Realty Trust Refinances Multifamily Property In Newark, NJ For $9.2M
FINANCED
$9,200,000
New Jersey
See Similar DealsMultiFamily35,000 SF
Financed 09/14/2021
FINANCED
Arbor Realty Trust Refinances Multifamily Property In Newark, NJ For $9.2M
2-12 Hillside Avenue, Newark, NJ, USA
See Similar DealsMultiFamily35,000 SF
Financed 09/14/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$262
Total Square Footage:35,000 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,200,000.00
Monthly NOI$61,333.33
Monthly Debt Service$58,150.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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