Loan Secured For Multifamily Property At 7 Sloan Court In Matawan, NJ
FINANCED
$1,800,000
New Jersey
See Similar DealsMultiFamily37,000 SF
Financed 06/08/2022
FINANCED
Loan Secured For Multifamily Property At 7 Sloan Court In Matawan, NJ
7 Sloan Court, Matawan, New Jersey 07747, United States
See Similar DealsMultiFamily37,000 SF
Financed 06/08/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$48
Total Square Footage:37,000 SF
Transaction Type:Loan
The Preserve at Matawan, located at 7 Sloan Court in Matawan, NJ, has been sold in a multifamily acquisition deal. The property spans approximately 37,000 square feet and consists of 31 units. The transaction took place on June 8, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,800,000
- Lender: Hanover Community Bank
- Broker: John Libretti - Progress Capital
John Libretti from Progress Capital represented the buyer in the transaction, while Hanover Community Bank provided the loan of $1,800,000 for the acquisition of The Preserve at Matawan. The deal marks a significant investment opportunity in the Matawan market.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,800,000.00
Monthly NOI$12,000.00
Monthly Debt Service$11,377.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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