Updated Apr 1, 2025
Namdar Group Secures $335 Million Refinance Loan From Hudson Bay Capital For MultiFamily Asset In Jersey City
9 Homestead Place, 26 Van Reipen Avenue & 28 Cottage Street
$335,000,000
$177/SF
Building Size
630,928 SF
Asset Type
MultiFamily
Closing
Mar 27, 2025
About this deal
AI
The property involved in this transaction is a MultiFamily asset located at 9 Homestead Place, Jersey City. The loan amount for the refinance transaction is $335,000,000.00.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $335,000,000.00
- Loan Type: Refinance
- Landlord: Namdar Group - Andrew Namdar and Daniel Namdar
- Lender: Hudson Bay Capital
- Landlord's Representatives: Jordan (Jordy) Roeschlaub (Newmark), Nick Scribani (Newmark), Max Ralby (Newmark)
- Transaction Date: 03/27/2025
This transaction features key individuals such as Andrew Namdar and Daniel Namdar representing the Namdar Group, alongside the lender Hudson Bay Capital, facilitating this refinance loan. The deal is supported by the expertise of the landlord's representatives from Newmark, ensuring comprehensive brokerage involvement in the transaction.
On the Map
$335,000,000
$177/SF
MultiFamily
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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
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93