Updated Oct 29, 2024
Fields Grade Development Secures $97M Loan For MultiFamily Property In Jersey City
3 New York Ave, Jersey City, NJ, 07307
$97,000,000
Building Size
—
Asset Type
MultiFamily
Closing
May 26, 2022
About this deal
AI
The property asset involved in the transaction is a MultiFamily located at 3 New York Ave, Jersey City, NJ, 07307. The loan amount for this asset is $97,000,000.00, and it is situated in the Jersey City market.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $97,000,000.00
- Borrower: Fields Grade Development
- Lender: Pacific Western Bank
- Borrower's Representative: Mark DeLillo-BlueGate Partners
The key individuals and companies involved in the deal include Fields Grade Development as the borrower and Pacific Western Bank as the lender, with Mark DeLillo from BlueGate Partners representing the borrower in this transaction.
On the Map
$97,000,000
MultiFamily
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Players
Jersey City 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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93