Updated Feb 5, 2025
Columbia Bank Provides $19M Loan For Weehawken Multifamily Property
231 32nd Street, Weehawken, New Jersey 07087, United States
$19,000,000
Units
60
Asset Type
MultiFamily
Closing
Aug 7, 2022
About this deal
AI
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.
On the Map
$19,000,000
MultiFamily
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Players
Weehawken 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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93