Updated Mar 11, 2025
Lakeland Bank Provides $1.4M Acquisition Loan For Multifamily Property On Poplar Avenue Deal, NJ
88 Poplar Avenue
$1,400,000
$233/SF
Building Size
6,000 SF
Asset Type
MultiFamily
Closing
Jan 3, 2023
About this deal
AI
The multifamily property located at 88 Poplar Avenue in Deal, NJ has recently undergone a loan transaction. The property spans approximately 6,000 square feet and is situated in a desirable market.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $1,400,000
- Address: 88 Poplar Avenue, Deal, NJ
- Market: Deal, NJ
- Lender: Lakeland Bank
- Broker: Jake Gluck – Fortune Capital Group
- Loan Type: Acquisition Loan
The loan amount secured for this transaction was $1,400,000. Lakeland Bank served as the lender, providing the necessary funds for the acquisition. Jake Gluck, representing Fortune Capital Group, acted as the broker for this deal.
Players
Deal 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
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93