Updated Dec 4, 2024
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:
- Property Type: Multifamily
- Transaction Amount: $30,800,000
- Loan: Thorofare Capital provided a loan of $30,800,000 for this transaction.
- Lender Representatives: David Perlman and Kevin Miller represented Thorofare Capital.
- Landlord: The Chetrit Group
- Brokers: Jonathan Bodner and Emanuel Westfried from Two Bins Capital facilitated the deal.
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
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