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44 Irvine Turner Boulevard

Updated Oct 10, 2026

Avi Lieberman Of IDB Bank Refinances $30 Million Loan For Tay Investments In Newark
FINANCEDMultiFamily

Avi Lieberman Of IDB Bank Refinances $30 Million Loan For Tay Investments In Newark

44 Irvine Turner Boulevard

$30,000,000

$153/SF

Building Size

195,535 SF

Asset Type

MultiFamily

Closing

Dec 30, 2024

About this deal

AI

The property asset involved in this transaction is a multifamily development known as The Art of Newark, located at 44 Irvine Turner Boulevard in Newark. This residential development comprises 155 units and encompasses a total square footage of 195,535. The recent refinancing for this property was executed at a loan amount of $30 million.

Summary of transaction details:

The refinancing was led by Avi Lieberman, who is the Head of New York Commercial Real Estate at IDB Bank, along with Ryan Shay, Associate Relationship Manager. This refinancing demonstrates IDB Bank's continued support for Tay Investments, led by Yuval Shram, and reinforces their commitment to The Art of Newark within the Newark University Heights community.

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$30,000,000

$153/SF

MultiFamily

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Players

Drew Fletcher

Greystone

Broker

$7.2B

vol

45 deals

Broker
Israel Discount Bank
Israel Discount Bank Brokerage
Greystone
GreystoneBrokerage

Avi Lieberman

Israel Discount Bank

Lender

$30M

vol

1 deal

Lender
Israel Discount Bank
Israel Discount Bank Lender
Greystone
GreystoneLender
Tay Investments
Tay InvestmentsLandlord

Newark MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $153 per square foot on a published $30M for 195,535 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.53%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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