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440 Elizabeth Avenue, Newar...

Updated Dec 4, 2024

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

About this deal

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.

On the Map

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$30,800,000

$30/SF

MultiFamily

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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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Deal FAQ

About $30 per square foot on a published $30.8M for 999,999 square feet (2021).

Visit Jonathan "Jon" Bodner to view all their deals.

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

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