Citizens Bank Provides $2.1 Million Refinance Loan For 35 Units Multifamily In Jersey City
35 Rock Street
$2,100,000
$2,100,000/SF
Building Size
1 SF
Asset Type
MultiFamily
Closing
Aug 22, 2024
AI
The asset involved in this transaction is a multifamily property located at 35 Rock Street in Jersey City, featuring a total of 35 units. The loan amount for this refinancing transaction is $2,100,000, facilitated by Citizens Bank.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,100,000
- Address: 35 Rock Street
- Market: Jersey City
- Lender: Citizens Bank
- Brokers: Bryan Geffen & Noah Schulman - Meridian Capital Group
- Loan Type: Refinance
The key individuals involved in this transaction include Bryan Geffen and Noah Schulman, who represent the broker agency Meridian Capital Group in this refinancing deal.
Players
Jersey City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93