Mario Echevarria Refinances Multifamily Property In West New York, NJ For $11.5M With PGIM Loan
FINANCED
$11,500,000
New Jersey
See Similar DealsMultiFamily1,193 SF
Financed 03/05/2021
FINANCED
Mario Echevarria Refinances Multifamily Property In West New York, NJ For $11.5M With PGIM Loan
6020 Hudson Ave, West New York, NJ 07093, USA
See Similar DealsMultiFamily1,193 SF
Financed 03/05/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$9,639
Total Square Footage:1,193 SF
Transaction Type:Loan
The loan for a multifamily property located at 6020 Hudson Avenue in West New York, NJ has been refinanced. The property, known as "Hudson Hall", is a 7-story building with 35 luxury rental units. It offers amenities such as on-site parking with a car elevator and electric vehicle charging stations, a fitness center, a tenant lounge, a pool, and a rooftop terrace with views of the Manhattan skyline.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $11,500,000
- Loan Type: Refinance
- Loan Terms: The 15-year loan features a fixed interest rate of 3.445% and 6 years of interest-only payments
- Lender: PGIM
- Landlord: Mario Echevarria
- Broker: Emil DePasquale - Black Bear Capital Partners
The loan was provided by PGIM, and the landlord of the property is Mario Echevarria. The broker involved in the deal is Emil DePasquale from Black Bear Capital Partners.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$11,500,000.00
Monthly NOI$76,666.67
Monthly Debt Service$72,687.82
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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