Columbia Bank Provides $19M Loan For Weehawken Multifamily Property
FINANCED
$19,000,000
New Jersey
See Similar DealsMultiFamily
Financed 08/08/2022
FINANCED
Columbia Bank Provides $19M Loan For Weehawken Multifamily Property
231 32nd Street, Weehawken, New Jersey 07087, United States
See Similar DealsMultiFamily
Financed 08/08/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan
A multifamily property located at 231 32nd St in Weehawken has recently undergone a closed transaction. The property consists of 60 units and was the subject of a loan transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $19,000,000
- Address: 231 32nd St, Weehawken
- Market: Weehawken
The lender for this transaction was Columbia Bank. The loan terms included a five-year, fixed-rate loan at an attractive interest rate and several years of interest only. Matthew Pizzolato and Gerard Quinn from JLL Capital Markets represented the borrower as brokers in this deal.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$19,000,000.00
Monthly NOI$126,666.67
Monthly Debt Service$120,092.92
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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