HKS Real Estate Advisors Facilitates $5.4M Refinance For Bayonne Multifamily
425-429 Avenue C
$5,400,000
$279/SF
Building Size
19,300 SF
Asset Type
MultiFamily
Closing
Apr 23, 2024
AI
The property, located at 425-429 Avenue C in Bayonne, is a newly constructed 19-unit apartment building with five stories and 19,300 square feet of space. The asset includes 19 parking spaces and was recently refinanced for $5.4 million, with a loan provided by Emerald Creek Capital.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,400,000
- Market: Bayonne
- Units: 19
- Lender: Emerald Creek Capital
- Brokers: Alex Dobosh & Michael Lee - HKS Real Estate Advisors
- Loan Type: Refinance
HKS Real Estate Advisors played a crucial role in facilitating the refinancing deal for the 19-unit apartment building in Bayonne. The transaction was brokered by Alex Dobosh and Michael Lee of HKS Real Estate Advisors, with Emerald Creek Capital providing the financing for this successful property transaction.
Players
Bayonne 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
2.94%
Cash-on-Cash
-0.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93