The Chetrit Group Secures $30.8M Loan For Multifamily Property In Newark, NJ
FINANCED
$30,800,000
New Jersey
See Similar DealsMultiFamily999,999 SF
Financed 05/18/2021
FINANCED
The Chetrit Group Secures $30.8M Loan For Multifamily Property In Newark, NJ
440 Elizabeth Avenue, Newark, NJ, USA
See Similar DealsMultiFamily999,999 SF
Financed 05/18/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$30
Total Square Footage:999,999 SF
Transaction Type:Loan
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
LENDER
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$30,800,000.00
Monthly NOI$205,333.33
Monthly Debt Service$194,676.95
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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