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Investors Bank Provides $31.05M Refinance Loan For Multifamily Property In Hamburg, NJ With Landlord Nick Rizzo

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FINANCED
$31,050,000
Gabby Cali
Brad Domenico

New Jersey

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MultiFamily6,000 SF
Financed 09/20/2021
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FINANCED

Investors Bank Provides $31.05M Refinance Loan For Multifamily Property In Hamburg, NJ With Landlord Nick Rizzo

3331 State Route 94, Hamburg, NJ 07419, USA

See Similar Deals
MultiFamily6,000 SF
Financed 09/20/2021
Gabby Cali
Brad Domenico
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$5,175
Total Square Footage:6,000 SF
Transaction Type:Loan

Investors Bank has provided a refinancing loan of $31,050,000 for a multifamily property located at 3331 Route 94 in Hamburg, NJ. The property, spanning 37 acres, consists of 240 units. The loan was secured by the landlord, Nick Rizzo.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $31,050,000
  • Address: 3331 Route 94, Hamburg, NJ
  • Market: Hamburg, NJ
  • Units: 240
  • Acres: 37
  • Lender: Investors Bank
  • Landlord: Nick Rizzo
  • Brokers: Brad Domenico & Gabby Cali - Progress Capital

Brad Domenico and Gabby Cali from Progress Capital represented the parties involved in the deal.

Players

Gabby Cali
Cali Capital
Gabby Cali
31 deals$156.9M volume(732) 962-3242
BROKER
Brad Domenico
Cushman & Wakefield
Brad Domenico
134 deals$3.6B volume
BROKER
Progress Capital
Progress Capital
BROKERAGE
Investors Bank
Investors Bank
LENDER

Details

FINANCED
IMAGE: Brad Domenico & Gabby Cali DATE: 09/20/2021 ADDRESS: 3331 Route 94 MARKET: Hamburg, NJ ASSET TYPE: Multifamily ~ UNITS: 240 ~ ACRES: 37 LENDER: Investors Bank LANDLORD: Nick Rizzo BROKERS: Brad Domenico (@domenico317) & Gabby Cali (@Gabbycali22) - Progress Capital (@Progress.Capital) LOAN AMOUNT: $31,050,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$31,050,000.00

Monthly NOI$207,000.00
Monthly Debt Service$196,257.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00