Updated Dec 4, 2024
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
About this deal
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.
On the Map
$2,100,000
$2,100,000/SF
MultiFamily
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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