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
Harrison 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
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93