Updated Feb 16, 2024
Leverage Capital Provides $1.02M Bridge Loan For Multifamily Property In Jersey City
245 Duncan Avenue, Jersey City, New Jersey 07306, United States
$1,023,500
$192/SF
Building Size
5,319 SF
Asset Type
MultiFamily
Closing
Apr 20, 2022
About this deal
AI
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.
Players
Jersey City 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
15.50%
Cash-on-Cash
-4.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93