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
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.
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