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JLL Capital Arranges $18.6M Refinancing Deal For 83-unit Multifamily Property In Jersey City

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FINANCED
$18,625,000

New Jersey

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MultiFamily
Financed 12/06/2023
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FINANCED

JLL Capital Arranges $18.6M Refinancing Deal For 83-unit Multifamily Property In Jersey City

39 High Street

See Similar Deals
MultiFamily
Financed 12/06/2023
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Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan

JLL Capital Markets arranged an $18.625 million refinancing deal for 39 High Street, an 83-unit multi-housing community in Jersey City. The newly constructed property, located near the Journal Square PATH Station, secured the fixed-rate loan for its luxury units and amenities, including a fitness center and rooftop terrace with NYC views.

Summary of transaction details

The transaction involved the collaboration of Spitzer Enterprises, represented by Eliot Spitze, and Titanium Realty Group, represented by Diego Hodara, as the landlords. The brokers responsible for the deal were John Cumming, Matthew Pizzolato, and Max Custer from JLL.

Players

Matthew Pizzolato
34 deals$1.4B volume(908) 720-0342
BROKER

Max Custer
JLL
36 deals$790M volume
BROKER

John Cumming
JLL
11 deals$702.5M volume
BROKER

Details

FINANCED
IMAGE: Eliot Spitze, Diego Hodara, John Cumming, Matthew Pizzolato & Max Custer DATE: 12/06/2023 ADDRESS: 39 High Street MARKET: Jersey City ASSET TYPE: Multifamily ~ UNITS: 83 LANDLORD: Spitzer Enterprises - Eliot Spitze; Titanium Realty Group (@TitaniumRealtyGroup) - Diego Hodara BROKERS: John Cumming, Matthew Pizzolato & Max Custer (@GeneralCusta) - JLL (@JLL) LOAN AMOUNT: $18,625,000 LOAN TYPE: Refinance LOAN TERMS: fixed-rate NOTE: JLL Capital Markets arranged an $18.625 million refinancing deal for 39 High Street, an 83-unit multi-housing community in Jersey City. The newly constructed property, located near the Journal Square PATH Station, secured the fixed-rate loan for its luxury units and amenities, including a fitness center and rooftop terrace with NYC views.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$18,625,000.00

Monthly NOI$124,166.67
Monthly Debt Service$117,722.67
Change in Cash Flow$0.00
Refinance Proceeds$0.00