Eli Ben-Meir, Dylan Kronenberg & Amit Stern Of Arion Fund Provide $1.7M Bridge Loan For 10-Unit Multifamily In Jersey City
88 90 Irving Street
$1,700,000
$244/SF
Building Size
6,950 SF
Asset Type
MultiFamily
Closing
Apr 9, 2025
AI
The asset involved in this transaction is a multifamily property located at 88-90 Irving Street in Jersey City. It consists of 10 units and has a total square footage of 6,950. The transaction includes a bridge loan amounting to $1,700,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,700,000
- Address: 88-90 Irving Street
- Market: Jersey City
- Units: 10
- Square Footage: 6,950
- Lender: Eli Ben-Meir, Dylan Kronenberg & Amit Stern - Arion Fund
- Landlord: Empire Realty Partners
- Loan Type: Bridge
Arion Fund is represented in this transaction by Eli Ben-Meir, Dylan Kronenberg, and Amit Stern. Empire Realty Partners acts as the landlord in this deal. Arion Fund is noted for its commitment to providing tailored financing solutions that enhance growth and opportunity in the multifamily sector.
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
9.33%
Cash-on-Cash
-2.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93