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IDB Bank Closes $31M Bridge Loan For The Art Of Newark Multifamily
FINANCED
$31,000,000
New Jersey
See Similar DealsMultiFamily
Financed 02/15/2024
FINANCED
IDB Bank Closes $31M Bridge Loan For The Art Of Newark Multifamily
44 Irvine Turner Boulevard
See Similar DealsMultiFamily
Financed 02/15/2024
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $31,000,000
- Units: 155
- Address: 44 Irvine Turner Boulevard, Newark
- Market: Newark
- Lender: Avi Lieberman, Laura Greenfield & Ryan Shay - IDB Bank
- Landlord: Yuval Shram - Tay Investments
- Loan Type: Bridge Loan
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$31,000,000.00
Monthly NOI$206,666.67
Monthly Debt Service$195,941.09
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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