Cerberus RE Provides $47M Bridge Loan For Multifamily Property In Jersey City
FINANCED
$47,000,000
New Jersey
See Similar DealsMultiFamily
Financed 01/26/2022
FINANCED
Cerberus RE Provides $47M Bridge Loan For Multifamily Property In Jersey City
28 Cottage Street, Jersey City, New Jersey 07306, United States
See Similar DealsMultiFamily
Financed 01/26/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 28 Cottage St in Jersey City has been involved in a recent transaction. The property consists of a total of 166 units, making it a significant asset in the market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $47,000,000
- Address: 28 Cottage St
- Market: Jersey City
- Lender: Cerberus RE
- Landlord: Namdar Group
- Brokers: Drew Fletcher, Matthew Hirsch & Bryan Grover - Greystone
- Loan Type: Bridge Loan
This transaction involved several key individuals and companies. The lender, Cerberus RE, provided a bridge loan in the amount of $47,000,000. The landlord in the deal is the Namdar Group. The brokers involved in the transaction were Drew Fletcher, Matthew Hirsch, and Bryan Grover, who represented Greystone.
Players
BROKERAGE
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$47,000,000.00
Monthly NOI$313,333.33
Monthly Debt Service$297,071.97
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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