Eric Panecki & Matt Neptun Of Brick City Capital Provide $1.12M Bridge Loan For Multifamily In Livingston NJ
FINANCED
$1,121,500
New Jersey
See Similar DealsMultiFamily16,379 SF
Financed 12/07/2024
FINANCED
Eric Panecki & Matt Neptun Of Brick City Capital Provide $1.12M Bridge Loan For Multifamily In Livingston NJ
28 Heron Road
See Similar DealsMultiFamily16,379 SF
Financed 12/07/2024
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$68
Total Square Footage:16,379 SF
Transaction Type:Loan
The property asset involved in the transaction is a multifamily building located at 28 Heron Road in Livingston, NJ. The asset spans a total area of 16,379 square feet and is associated with a bridge loan amounting to $1,121,500, with a loan term of 1 year at an 80% loan-to-value ratio.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,121,500
- Address: 28 Heron Road
- Market: Livingston, NJ
- Asset Size: 16,379 SF
- Lender: Eric Panecki & Matt Neptun - Brick City Capital
- Loan Type: Bridge
- Loan Terms: 1 year 80% LTV
Eric Panecki and Matt Neptun represent Brick City Capital as the lenders in this transaction, facilitating the bridge loan for the multifamily property. Their involvement is crucial in providing the necessary financing for the deal.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,121,500.00
Monthly NOI$7,476.67
Monthly Debt Service$7,088.64
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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