Robert Tagliareni Acquires 171-Unit Multifamily Property In Kearny, NJ With $27M Loan From ConnectOne Bank
FINANCED
$27,000,000
+ 1
New Jersey
See Similar DealsMultiFamily
Financed 10/18/2021
FINANCED
Robert Tagliareni Acquires 171-Unit Multifamily Property In Kearny, NJ With $27M Loan From ConnectOne Bank
49-109 Belgrove Drive, Kearny, NJ, USA
See Similar DealsMultiFamily
Financed 10/18/2021
+ 1
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan
Located at 49-109 Belgrove Drive in Kearny, NJ, this multifamily property consists of 171 units. The property was recently involved in a closed transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $27,000,000
- Date: 10/18/2021
- Lender: ConnectOne Bank
- Landlord: Robert Tagliareni
- Selling Brokers: Niko Nicolaou & David Oropeza - Gebroe-Hammer Associates
- Mortgage Broker: Brad Domenico - Progress Capital
- Loan Type: Acquisition Loan
Brad Domenico, a representative from Progress Capital, served as the mortgage broker for this transaction involving the multifamily property at 49-109 Belgrove Drive. ConnectOne Bank provided a loan amount of $27,000,000 for the acquisition. The selling brokers involved in the deal were Niko Nicolaou and David Oropeza from Gebroe-Hammer Associates. The landlord, Robert Tagliareni, completed the transaction successfully.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$27,000,000.00
Monthly NOI$180,000.00
Monthly Debt Service$170,658.37
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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