Updated Feb 5, 2025
Cooper Horowitz Brokers Secures $27.5M Construction Loan For Long Branch Multifamily Property
272 Willow Avenue, Long Branch, New Jersey 07740, United States
$27,500,000
$187/SF
Building Size
147,000 SF
Asset Type
MultiFamily
Closing
May 24, 2022
About this deal
AI
A multifamily property located in Long Branch, at 272 Willow Ave & 258 Morris Ave, was recently involved in a closed transaction. The property spans 147,000 square feet and consists of 87 units. The deal took place on May 25, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Date: May 25, 2022
- Address: 272 Willow Ave & 258 Morris Ave, Long Branch
- Units: 87
- Square Footage: 147,000
The construction loan for this transaction was provided by Sean Robertson and Jeff Rosenfeld from Churchill Real Estate. They lent a total of $27,500,000 for the project. The loan type was construction.
The brokers involved in the deal were Nick Barbato, Michael Horowitz, and Jordan Horowitz from Cooper Horowitz.
On the Map
$27,500,000
$187/SF
MultiFamily
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Players
Long Branch 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
0.58%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93