Kearny Federal Savings Bank Provides $6.8 Million Refinance Loan For Yardville Multifamily Asset
4134 South Broad Street
$6,800,000
$87/SF
Building Size
77,580 SF
Asset Type
MultiFamily
Closing
Aug 29, 2024
AI
The property asset involved in this transaction is a multifamily unit located at 4134 South Broad Street in Yardville - Trenton. The asset comprises 92 units and features a total square footage of 77,580. The transaction is a refinance loan amounting to $6,800,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,800,000
- Address: 4134 South Broad Street
- Market: Yardville - Trenton
- Units: 92
- Square Footage: 77,580
- Lender: Kearny Federal Savings Bank
- Broker: David Cohen - Meridian Capital Group
- Loan Type: Refinance
Key individuals involved in the deal include David Cohen, who represents the broker Meridian Capital Group in this transaction, facilitating the refinance process with Kearny Federal Savings Bank.
Players
Trenton 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
2.33%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93