Updated Oct 29, 2024
PERE Holdings Acquires 72-Unit Multifamily Property In Jersey City With $20M Loan From Freddie Mac
65 Maple Street, Jersey City, NJ, USA
$20,030,000
$1,001/SF
Building Size
19,998 SF
Asset Type
MultiFamily
Closing
Jan 25, 2021
About this deal
AI
The property involved in this transaction is a multifamily asset located at 65 Maple St in Jersey City. It consists of 72 units. The transaction took place on January 26, 2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $20,030,000
- Address: 65 Maple St
- Market: Jersey City
- Units: 72
The lender in this transaction was Freddie Mac, while the landlord was PERE Holdings. Matthew Pizzolato & Thomas E. Didio, Jr. from JLL represented the parties involved as brokers.
The loan obtained for this transaction was $20,030,000. It is a 10-year, floating-rate loan.
Players
Jersey City 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93