Updated Mar 11, 2025
John Libretti Secures $2.8M Refinance Loan For Multifamily Portfolio In Chatham, Summit & Point Pleasant
3 Lum Avenue, Chatham, NJ, USA
$2,800,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 12, 2021
About this deal
AI
A loan of $2,800,000 was secured by John Libretti for Dan Gechtman's real estate portfolio, consisting of four multifamily properties located in Chatham, Summit, and Point Pleasant, NJ. The properties include 3, 5 Lum Avenue, 16 Gates Avenue, and 737 Howe Street.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,800,000
John Libretti, representing Progress Capital, acted as the broker in this refinancing deal. The lender is Manasquan Bank.
Contact John Libretti at 732-275-4839 or [email protected] for any commercial real estate financing needs.
Honest Advice | Expert Execution | progresscapital.com
Players
Chatham 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
5.67%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93