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Akiva Drew Of Drew Capital Secures $2.57 Million Refinance Loan For 16-Unit Multifamily In Orange

Property Image
FINANCED
$2,565,000

New Jersey

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MultiFamily9,600 SF
Financed 11/01/2024
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Property Image
FINANCED

Akiva Drew Of Drew Capital Secures $2.57 Million Refinance Loan For 16-Unit Multifamily In Orange

MultiFamily9,600 SF
Financed 11/01/2024
the dealplayerscompscontact
Contact now

Summary

Asset Type:MultiFamily
Price Per Square Foot:$267
Total Square Footage:9,600 SF
Transaction Type:Loan

The asset involved in the transaction is a multifamily property located in the Orange market, consisting of 16 units with a total square footage of 9,600. The loan amount facilitated for this refinance transaction is $2,565,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,565,000
  • Loan Type: Refinance
  • Loan Terms: 5 Year Term, Fixed Rate @ 6.25%, Flexible PPP
  • Broker: Akiva Drew - Drew Capital

In this transaction, Akiva Drew of Drew Capital represents the broker involved, facilitating the refinancing process for the multifamily property in Orange.

Players

Akiva Drew
Drew Capital
Akiva Drew
8 deals$185.9M volume(908) 783-4553
BROKER

Details

FINANCED
IMAGE: Akiva Drew DATE: 11/01/2024 MARKET: Orange ASSET TYPE: Multifamily ~ UNITS: 16 ~ SF: 9,600 BROKER: Akiva Drew (@AkivaDrew) - Drew Capital LOAN AMOUNT: $2,565,000 LOAN TYPE: Refinance LOAN TERMS: 5 Year Term, Fixed Rate @ 6.25%, Flexible PPP

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$2,565,000.00

Monthly NOI$17,100.00
Monthly Debt Service$16,212.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00