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440 Elizabeth Avenue, Newar...

The Chetrit Group Secures $30.8M Loan For Multifamily Property In Newark, NJ
FINANCEDMultiFamily

The Chetrit Group Secures $30.8M Loan For Multifamily Property In Newark, NJ

440 Elizabeth Avenue, Newark, NJ, USA

$30,800,000

$30/SF

Building Size

999,999 SF

Asset Type

MultiFamily

Closing

May 17, 2021

AI

Located at 440 Elizabeth Avenue in Newark, NJ, this multifamily property has recently been involved in a transaction.

Summary of transaction details:

The Chetrit Group acted as the landlord in this transaction. Representatives David Perlman and Kevin Miller from Thorofare Capital provided a loan amount of $30,800,000. Two Bins Capital, represented by brokers Jonathan Bodner and Emanuel Westfried, played an instrumental role in the deal.

Players

Jonathan Bodner

Broker

$376.2M

vol

8 deals

Broker
Thorofare Capital
Thorofare CapitalLender
Chetrit Group
Chetrit GroupLandlord

Newark 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

0.52%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93