Updated Mar 11, 2025
Bravo Capital Funds $169.3M Construction Loan For 66 Broadway Multifamily
66 Broadway
$169,300,000
$409/SF
Building Size
413,735 SF
Asset Type
MultiFamily
Closing
Jun 21, 2024
About this deal
AI
The multifamily property located at 66 Broadway in Jersey City, NJ, spans 413,735 square feet and comprises 477 units. The loan for this property was provided by Bravo Capital for a total amount of $169,300,000 under a construction loan type.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $169,300,000
- Address: 66 Broadway
- Market: Jersey City, NJ
- Loan Type: Construction
- Lender: Bravo Capital
- Brokers: Morris Betesh, David Hayum & Morris Dabbah - Meridian Capital Group
David Hayum, Morris Betesh, and Morris Dabbah from Meridian Capital Group played crucial roles as brokers in facilitating the loan deal for the multifamily property at 66 Broadway. These individuals were instrumental in connecting the borrower with Bravo Capital to secure the substantial loan for this real estate transaction.
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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93