Updated Oct 10, 2026
Berel Karniol Secures $25.9M Loan For MultiFamily Property In Hackensack
295 Polifly Rd, Hackensack, NJ, 07601
$25,900,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 22, 2023
About this deal
AI
The property at 295 Polifly Rd, Hackensack, NJ, 07601, located in the Hackensack market, is an asset of the MultiFamily type. The loan amount secured for this property transaction was $25,900,000.00.
Summary of transation details:
- Property Type: MultiFamily
- Transaction Amount: $25,900,000.00
- Address: 295 Polifly Rd, Hackensack, NJ, 07601
- Market: Hackensack
Shaya Sonnenschein from Meridian Capital Group represented the borrower, Berel Karniol, in this transaction. The lender involved in this deal was Connect One Bank.
The multifamily loan at 295 Polifly Rd, Hackensack, NJ, 07601 in Hackensack, New Jersey financed for $25.9M in 2024. 295 Polifly Rd, Hackensack, NJ, 07601 is classified as Multifamily on Traded. Shaya Sonnenschein, Gabriel Alexander, Meridian Capital Group appear on the loan alongside Meridian Capital Group. This page is the Hackensack, New Jersey file for the 295 Polifly Rd, Hackensack, NJ, 07601 multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Hackensack sit in the Market section below. Filter that Hackensack multifamily set by closing date to see what else financed near 295 Polifly Rd, Hackensack, NJ, 07601 around 2024. Published consideration for 295 Polifly Rd, Hackensack, NJ, 07601 is $25.9M, dated 2024. Cite this Berel Karniol Secures $25.9M Loan For MultiFamily Property In Hackensack loan when underwriting similar multifamily product around Hackensack, New Jersey.
On the Map
$25,900,000
MultiFamily
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Players
Hackensack 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
0.61%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93