FINANCEDMultiFamily
JLL Capital Markets Secures $11.8M Construction Loan For West New York Multifamily Property
6116 Harrison Place, West New York, New Jersey 07093, United States
$11,800,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 8, 2022
AI
The property involved in this transaction is a Multifamily asset located at 6116 Harrison Place in West New York, NJ. It consists of 48 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $11,800,000
- Address: 6116 Harrison Place, West New York, NJ
- Market: West New York, NJ
- Lender: Cathay Bank
- Loan Type: Construction Loan
- Loan Terms: three-year, floating-rate
The deal was facilitated by the brokers Matthew Pizzolato, Max Custer, Gerard Quinn, and Salvatore Buzzerio from JLL Capital Markets.
Players
West New York 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
1.34%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93