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Redwood Capital Advisors Facilitates $1.5M Refinance Loan For Multifamily Property In Jersey City

Property Image
FINANCED
$1,500,000

New Jersey

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MultiFamily5,001 SF
Financed 03/25/2022
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Property Image
FINANCED

Redwood Capital Advisors Facilitates $1.5M Refinance Loan For Multifamily Property In Jersey City

219 New York Avenue, Jersey City, New Jersey 07307, United States

See Similar Deals
MultiFamily5,001 SF
Financed 03/25/2022
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$299
Total Square Footage:5,001 SF
Transaction Type:Loan

The property involved in this closed transaction is a multifamily building located at 219 New York Ave in Jersey City. The property consists of 12 units and has a total square footage of 5,001. The transaction took place on 03/25/2022.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,500,000
  • Loan Type: Refinance
  • Loan Terms: 3.5% Fixed for 10 Years, 30 Year Amortization, Non-Recourse, Prepay: 3,2,2,1,1

The lender for this transaction is Lakeland Bank. The landlord of the property is Red Star Properties, LLC. The broker involved in the deal is Edward McCarthy from Redwood Capital Advisors.

Players

Edward McCarthy
Redwood Realty Advisors
Edward McCarthy
8 deals$30.4M volume
BROKER
Lakeland Bank
Lakeland Bank
LENDER

Details

FINANCED
IMAGE: Edward McCarthy DATE: 03/25/2022 ADDRESS: 219 New York Ave MARKET: Jersey City ASSET TYPE: Multifamily ~ UNITS: 12 ~ SF: 5,001 LENDER: Lakeland Bank LANDLORD: Red Star Properties, LLC BROKER: Edward McCarthy - Redwood Capital Advisors (@RedwoodRealtyAdvisors), (@RedwoodCapitalAdvisors) LOAN AMOUNT: $1,500,000 LOAN TYPE: Refinance LOAN TERMS: 3.5% Fixed for 10 Years, 30 Year Amortization, Non-Recourse, Prepay: 3,2,2,1,1

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$1,500,000.00

Monthly NOI$10,000.00
Monthly Debt Service$9,481.02
Change in Cash Flow$0.00
Refinance Proceeds$0.00