34-36 Gillette LLC Secures $3.03M Loan In Multifamily Property Deal In Newark
FINANCED
$3,030,000
New Jersey
See Similar DealsMultiFamily4,129 SF
Financed 12/21/2020
FINANCED
34-36 Gillette LLC Secures $3.03M Loan In Multifamily Property Deal In Newark
34-36 Gillette Place, Newark, NJ, USA
See Similar DealsMultiFamily4,129 SF
Financed 12/21/2020
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$733
Total Square Footage:4,129 SF
Transaction Type:Loan
Located in Newark, the recently closed multifamily transaction involves the properties at 34-36 Gillette Place and 167 22nd Street. The transaction took place on December 21, 2020, and the asset type is a multifamily property.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,030,000
- Lender: Arbor Realty Trust - Geoffrey A. Platt
- Landlord: 34-36 Gillette LLC
- Broker: Pinchus Schwartz - Snco Capital
The transaction was financed by Arbor Realty Trust, with Geoffrey A. Platt representing the lender. The landlord of the properties is 34-36 Gillette LLC. Representing the deal as the broker is Pinchus Schwartz from Snco Capital.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,030,000.00
Monthly NOI$20,200.00
Monthly Debt Service$19,151.66
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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