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700 Frank E Rodgers Bouleva...

Eastone Equities LLC Secures $89.5M Loan For Mixed-Use Properties In Harrison, NJ
FINANCEDMultiFamily

Eastone Equities LLC Secures $89.5M Loan For Mixed-Use Properties In Harrison, NJ

700 Frank E Rodgers Boulevard South, Harrison, NJ, USA

$89,500,000

$12,605/SF

Building Size

7,100 SF

Asset Type

MultiFamily

Closing

Dec 16, 2020

AI

600 Rodgers Boulevard South, 700 Rodgers Boulevard South, and 600 South Fifth Street in Harrison were part of a recent closed transaction. The mixed-use asset located in this market was involved in a deal that took place on 12/17/2020. The property's loan amount was $89,500,000.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $89,500,000
  • Lender: Invictus Real Estate Partners
  • Landlord: Eastone Equities LLC
  • Brokers: Jordan A. Fisch, Matthew S. Schneid, Wendy M. Berger, Jill B. Richardson, Catherine E. Bostock, Robyn A. Pellegrino, Cristina M. Riggio, Isabelle R. Jacobs, Aaron Brotman, and Nicole Dlugosz - Cole Schotz P.C.

The deal involved various key individuals and companies. The brokers representing the parties in this transaction were Jordan A. Fisch, Matthew S. Schneid, Wendy M. Berger, Jill B. Richardson, Catherine E. Bostock, Robyn A. Pellegrino, Cristina M. Riggio, Isabelle R. Jacobs, Aaron Brotman, and Nicole Dlugosz from Cole Schotz P.C.

Players

Jordan Fisch

Broker

$89.5M

vol

1 deal

Broker
JLL
JLLBrokerage
Invictus Real Estate Partners
Invictus Real Estate PartnersLender

Harrison MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.18%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93