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Bravo Capital Arranges $46M Construction Loan For 281 Broadway Multifamily

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FINANCED
$46,000,000

New Jersey

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MultiFamily210,000 SF
Financed 03/29/2024
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FINANCED

Bravo Capital Arranges $46M Construction Loan For 281 Broadway Multifamily

281 Broadway

See Similar Deals
MultiFamily210,000 SF
Financed 03/29/2024
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Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$219
Total Square Footage:210,000 SF
Transaction Type:Loan

The property asset involved in the transaction is a multifamily building located at 281 Broadway in Bayonne. This asset consists of 128 units and encompasses a total square footage of 210,000. The loan amount secured for this property is $46,000,000, classified as a construction loan.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $46,000,000
  • Address: 281 Broadway
  • Market: Bayonne
  • Units: 128
  • Square Footage: 210,000
  • Lender: Gabi Moshayev - Bravo Property Trust
  • Landlord: Bayonne Equities BII Urban Renewal
  • Broker: Aidan Birnbaum & Aaron Krawitz - Bravo Capital
  • Loan Type: Construction

Key individuals involved in this deal include Gabi Moshayev, who represents Bravo Property Trust, acting as the lender, and the brokers Aidan Birnbaum and Aaron Krawitz from Bravo Capital, who facilitated the transaction. The landlord in this deal is Bayonne Equities BII Urban Renewal, responsible for the property's management.

Players

Aaron Krawitz
9 deals$693.9M volume
BROKER

Aidan Birnbaum
Bravo Capital
2 deals$216M volume
BROKER

Bravo Capital
LENDER

Details

FINANCED
IMAGE: Aaron Krawitz, Gabi Moshayev & Aidan Birnbaum DATE: 03/29/2024 ADDRESS: 281 Broadway MARKET: Bayonne ASSET TYPE: Multifamily ~ UNITS: 128 ~ SF: 210,000 LENDER: Gabi Moshayev - Bravo Property Trust LANDLORD: Bayonne Equities BII Urban Renewal BROKER: Aidan Birnbaum & Aaron Krawitz - Bravo Capital LOAN AMOUNT: $46,000,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$46,000,000.00

Monthly NOI$306,666.67
Monthly Debt Service$290,751.29
Change in Cash Flow$0.00
Refinance Proceeds$0.00