Updated Sep 9, 2024
Haven Savings Bank Provides $2.7M Acquisition Loan For Multifamily Property In Bayonne, NJ
863 Avenue C
$2,700,000
$139/SF
Building Size
19,320 SF
Asset Type
MultiFamily
Closing
Feb 13, 2023
About this deal
AI
A multifamily property located at 863 Avenue C in Bayonne, NJ has been involved in a recent transaction. The property spans 19,320 square feet and consists of 21 units. The transaction took place on 02/13/2023.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,700,000
- Loan Type: Acquisition
- Lender: Haven Savings Bank
- Landlord: Seth Martinez
- Broker: Caillin Boles - Progress Capital
The loan for this transaction was provided by Haven Savings Bank for an amount of $2,700,000. The loan was of the acquisition type. Caillin Boles from Progress Capital represented the involved parties as the broker.
Players
Market 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
5.88%
Cash-on-Cash
-1.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93