IFANY & STREKE Refinances 56-Unit Multifamily In Jersey City For $25M With BMO Bank
FINANCED
$25,000,000
New Jersey
See Similar DealsMultiFamily
Financed 11/20/2023
FINANCED
IFANY & STREKE Refinances 56-Unit Multifamily In Jersey City For $25M With BMO Bank
309-311 Pine Street
See Similar DealsMultiFamily
Financed 11/20/2023
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan
A $25,000,000 loan has been secured for the refinancing of a multifamily property located at 309-311 Pine Street in Jersey City, NJ. The property consists of 56 units and is owned by IFANY & STREKE, represented by Shimon Jacobowitz, Mark Rigerman, and Paul Jensen. The loan was provided by BMO Bank.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $25,000,000
- Units: 56
- Lender: BMO Bank
- Landlord: IFANY & STREKE - Shimon Jacobowitz, Mark Rigerman & Paul Jensen
- Loan Type: Refinance
The key individuals involved in this transaction are Shimon Jacobowitz, Mark Rigerman, and Paul Jensen. They represent IFANY & STREKE, the landlord of the property. BMO Bank, the lender, provided the $25,000,000 loan for the refinancing.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$25,000,000.00
Monthly NOI$166,666.67
Monthly Debt Service$158,017.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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