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Loan · MultiFamily

Updated Sep 25, 2025

Blue Foundry Bank Provides $17 Million Refinance Loan For Skyline Square Multifamily In Paterson
FINANCEDMultiFamily

Blue Foundry Bank Provides $17 Million Refinance Loan For Skyline Square Multifamily In Paterson

$17,000,000

$268/SF

Building Size

63,281 SF

Asset Type

MultiFamily

Closing

Sep 17, 2025

About this deal

AI

The asset involved in this transaction is a multifamily property located in Paterson, encompassing a total square footage of 63,281. A permanent loan of $17,000,000 was secured to refinance the existing construction loan of Skyline Square, aimed at fostering long-term stability for the asset.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $17,000,000
  • Lender: Blue Foundry Bank
  • Loan Type: Refinance
  • Loan Terms: 10 Years
  • Landlord's Representative: Mohammad Hadla - Signature Capital Associates

The refinancing was facilitated by Signature Capital Associates, an owner advisory firm that specializes in securing financing solutions tailored to specific investments. The firm is noted for its strategic consultation services that guide landlords and investors through various stages of the capital stack, as well as providing assistance in navigating complex market and zoning landscapes.

Players

Mohammad Hadla
Verified Badge

Mohammad Hadla

Signature Capital Associates

Broker

$87M

vol

2 deals

Broker

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $268 per square foot on a published $17M for 63,281 square feet (2025).

Visit Mohammad Hadla to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.93%

Cash-on-Cash

-0.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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