Updated Mar 11, 2025
BrightSpire Capital Provides $43M Bridge Loan For Jersey City Multifamily Property
74 Maple Street, Jersey City, NJ 07304, USA
$43,000,000
$239/SF
Building Size
179,400 SF
Asset Type
MultiFamily
Closing
Jul 23, 2020
About this deal
AI
The property involved in this transaction is a multifamily located at 74 Maple St in Jersey City, NJ. The deal was closed on 07/23/2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $43,000,000
- Market: Jersey City, NJ
The loan for this transaction was provided by BrightSpire Capital. The loan amount was $43,000,000, and it had a three-year, floating-rate bridge loan term. The property consists of 104 units.
Golden Glades Capital Management is the landlord for this property. The brokers involved in this transaction were Matthew Pizzolato & Thomas E. Didio Jr. from JLL Capital Markets.
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
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93