Balfour Real Estate Acquires Multifamily Property In Bayonne, NJ For $827.5K
FINANCED
$827,500
New Jersey
See Similar DealsMultiFamily2,275 SF
Financed 01/11/2022
FINANCED
Balfour Real Estate Acquires Multifamily Property In Bayonne, NJ For $827.5K
64 West 18th Street
See Similar DealsMultiFamily2,275 SF
Financed 01/11/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$363
Total Square Footage:2,275 SF
Transaction Type:Loan
The multifamily property located at 64 West 18th Street in Bayonne, NJ has recently undergone a closed transaction. The property boasts a total of 2,275 square feet and consists of 6 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $827,500
- Address: 64 West 18th Street, Bayonne, NJ
- Market: Bayonne, NJ
- Square Footage: 2,275
- Number of Units: 6
The lender involved in this transaction was Stormfield Capital. Balfour Real Estate, represented by Miles Bronstein and Brett Rosenthal, acted as the landlord. Additionally, David May of Progress Capital served as the broker responsible for facilitating the deal.
The loan, amounting to $827,500, was procured in the form of a bridge loan. The specific terms of the loan included a non-recourse acquisition bridge loan, which was successfully closed within a remarkably short period of 3 weeks.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$827,500.00
Monthly NOI$5,516.67
Monthly Debt Service$5,230.36
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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