Leverage Capital Provides $1.02M Bridge Loan For Multifamily Property In Jersey City
FINANCED
$1,023,500
New Jersey
See Similar DealsMultiFamily5,319 SF
Financed 04/21/2022
FINANCED
Leverage Capital Provides $1.02M Bridge Loan For Multifamily Property In Jersey City
245 Duncan Avenue, Jersey City, New Jersey 07306, United States
See Similar DealsMultiFamily5,319 SF
Financed 04/21/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$192
Total Square Footage:5,319 SF
Transaction Type:Loan
The multifamily property located at 245 Duncan Ave. in Jersey City, NJ was recently involved in a closed transaction. The property spans approximately 5,319 square feet and consists of 6 units. The transaction took place on April 21, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,023,500
- Address: 245 Duncan Ave.
- Market: Jersey City, NJ
- Square Footage: 5,319
- Unit Count: 6
The loan, amounting to $1,023,500, was secured from Leverage Capital by Eric Panecki and Veronique Hut. The loan type was a bridge loan, and the loan terms had a loan-to-cost (LTC) ratio of 85.79%. It's important to note that Mahir Allan is the landlord of the property.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,023,500.00
Monthly NOI$6,823.33
Monthly Debt Service$6,469.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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