Greystone Provides $74.3M Loan For Newark Multifamily Property
FINANCED
$74,300,000
New Jersey
See Similar DealsMultiFamily
Financed 06/02/2022
FINANCED
Greystone Provides $74.3M Loan For Newark Multifamily Property
322-324 Park Avenue, Newark, New Jersey 07107, United States
See Similar DealsMultiFamily
Financed 06/02/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 322-324 Parke Ave in Newark was involved in a closed transaction. The property consists of 574 units and is situated in a vibrant market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $74,300,000
- Lender: greystone''>Greystone
- Loan Terms: 10-year terms and 30-year amortization
- Representative: Hope Curtis - Greystone
Hope Curtis, from Greystone, represented the lender in the transaction. The loan amount for this deal was $74,300,000 with terms of 10 years and a 30-year amortization period.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$74,300,000.00
Monthly NOI$495,333.33
Monthly Debt Service$469,626.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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