Affinity Federal Credit Union Provides $1.5M Loan For Passaic Multifamily Property
FINANCED
$1,500,000
New Jersey
See Similar DealsMultiFamily9,984 SF
Financed 11/27/2020
FINANCED
Affinity Federal Credit Union Provides $1.5M Loan For Passaic Multifamily Property
308 Sherman St, Passaic, NJ 07055, USA
See Similar DealsMultiFamily9,984 SF
Financed 11/27/2020
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$150
Total Square Footage:9,984 SF
Transaction Type:Loan
A multifamily property located at 308 Sherman Street in Passaic has recently undergone a closed transaction. The property, featuring multiple residential units, was involved in a loan deal.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,500,000
- Market: Passaic
- Lender: Affinity Federal Credit Union
- Landlord: Steven Hess & Scott Seale
- Broker: Caillin Boles - Progress Capital
The loan for this property was provided by Affinity Federal Credit Union. The landlords involved in the transaction are Steven Hess and Scott Seale. The broker representing the deal is Caillin Boles from Progress Capital.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,500,000.00
Monthly NOI$10,000.00
Monthly Debt Service$9,481.02
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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