Euclid Construction Refinances Multifamily Property In Jersey City For $26M With New York Community Bank
FINANCED
$26,000,000
New Jersey
See Similar DealsMultiFamily
Financed 12/30/2021
FINANCED
Euclid Construction Refinances Multifamily Property In Jersey City For $26M With New York Community Bank
460 Grand Street
See Similar DealsMultiFamily
Financed 12/30/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 460 Grand Street in Jersey City, NJ has recently undergone a refinancing transaction. The property consists of 82 units and is owned by Euclid Construction. The loan for this transaction was provided by New York Community Bank in the amount of $26,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $26,000,000
- Address: 460 Grand Street, Jersey City, NJ
- Units: 82
- Lender: New York Community Bank
- Landlord: Euclid Construction
- Brokers: Daniel Cohen, Zev Karpel & Sean Anderson - Meridian Capital Group
The brokers representing the transaction were Daniel Cohen, Zev Karpel, and Sean Anderson from Meridian Capital Group. They played a key role in facilitating the refinancing deal for the multifamily property at 460 Grand Street.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$26,000,000.00
Monthly NOI$173,333.33
Monthly Debt Service$164,337.69
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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