John Libretti Secures $2.8M Refinance Loan For Multifamily Portfolio In Chatham, Summit & Point Pleasant
FINANCED
$2,800,000
New Jersey
See Similar DealsMultiFamily
Financed 11/12/2021
FINANCED
John Libretti Secures $2.8M Refinance Loan For Multifamily Portfolio In Chatham, Summit & Point Pleasant
3 Lum Avenue, Chatham, NJ, USA
See Similar DealsMultiFamily
Financed 11/12/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan
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
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,800,000.00
Monthly NOI$18,666.67
Monthly Debt Service$17,697.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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