Loan Secured For Multifamily Property At 7 Sloan Court In Matawan, NJ
7 Sloan Court, Matawan, New Jersey 07747, United States
$1,800,000
$48/SF
Building Size
37,000 SF
Asset Type
MultiFamily
Closing
Jun 7, 2022
AI
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.
Players
Matawan 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
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93