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Fadi Samaan Secures $27.7M Refinance Loan For 104-Unit Station At Passaic From Dwight Capital
FINANCED
$27,700,000
New Jersey
See Similar DealsMultiFamily
Financed 08/11/2025
FINANCED
Fadi Samaan Secures $27.7M Refinance Loan For 104-Unit Station At Passaic From Dwight Capital
99 11 Passaic Street
See Similar DealsMultiFamily
Financed 08/11/2025
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan
The asset involved is a multifamily property located at 99-11 Passaic Street in Passaic, NJ. The property consists of 104 units, including 96 two-bedroom and 8 one-bedroom units, along with 7,813 square feet of commercial space. The loan amount secured for this asset is $27,700,000, intended for refinancing purposes.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $27,700,000
- Lender: Jonathan Pomper & Noah Greenwald - Dwight Capital
- Landlord: Fadi Samaan
- Loan Type: Refinance
- Year Built: 2024
- Units: 104
- Commercial Space: 7,813 square feet
Jonathan Pomper and Noah Greenwald from Dwight Capital facilitated the refinancing loan for Fadi Samaan, who is the landlord of the property. The refinancing effort aimed to retire construction debt, fund repairs, and establish reserves for the property located in the Passaic market.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$27,700,000.00
Monthly NOI$184,666.67
Monthly Debt Service$175,082.84
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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