Updated Jun 10, 2025
Anthony Iervolino Of AI Capital Lending Closes $3.6M Construction Loan For Multifamily In Bergen County
$3,600,000
$130/SF
Building Size
27,500 SF
Asset Type
MultiFamily
Closing
Jun 5, 2025
About this deal
AI
A multifamily property located in Bergen County, NJ has been financed with a first mortgage ground-up construction loan. The asset encompasses 31 units and 26 parking spaces, with a total square footage of 27,500.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,600,000
- Loan Type: Construction
- Lender: Anthony Iervolino - AI Capital Lending
Anthony Iervolino serves as the lender for this transaction, representing AI Capital Lending in the financing deal for the construction of the multifamily property.
Market 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
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93