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300 Riverfront Boulevard, E...

JLL Capital Markets Arranges $48M Loan For Multifamily Property In Elmwood Park, NJ
FINANCEDMultiFamily

JLL Capital Markets Arranges $48M Loan For Multifamily Property In Elmwood Park, NJ

300 Riverfront Boulevard, Elmwood Park, NJ 07407

$48,000,000

Building Size

Asset Type

MultiFamily

Closing

May 9, 2021

AI

300 Riverfront Blvd, a multifamily property located in Elmwood Park, NJ, was recently involved in a closed transaction. The property consists of 240 units and was the subject of a three-year senior loan.

Summary of Transaction Details

  • Property Type: Multifamily
  • Loan Amount: $48,000,000
  • Lender: Provident Bank, Investors Bank, 100 Mile Fund
  • Landlord: Riverwalk III LLC
  • Brokers: Thomas Didio & Thomas E. Didio, Jr - JLL Capital Markets
  • Market: Elmwood Park, NJ

The lenders involved in the transaction were Provident Bank, Investors Bank, and 100 Mile Fund. The brokers representing the deal were Thomas Didio and Thomas E. Didio, Jr, from JLL Capital Markets.

Players

Thomas E. Didio, Jr

JLL

Broker

$2.9B

vol

43 deals

Broker
Provident Bank
Provident BankLender

Elmwood Park 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

0.33%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93