Updated Mar 11, 2025
Cerberus RE Provides $47M Bridge Loan For Multifamily Property In Jersey City
28 Cottage Street, Jersey City, New Jersey 07306, United States
$47,000,000
Units
166
Asset Type
MultiFamily
Closing
Jan 25, 2022
About this deal
AI
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.
On the Map
$47,000,000
MultiFamily
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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
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93