FINANCEDMultiFamily
Black Bear Capital Partners (“BBCP”) advised on the successful capitalization of an $18.0 Million Development in Guttenberg, New Jersey
416-422 69th Street, Guttenberg, Nj, 07093
$18,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 30, 2026
AI
A multi-family residential development project consisting of 50 units is located at 416-422 69th Street in Guttenberg, New Jersey. The total capitalization of the project amounts to $18.0 million, which includes $5.4 million of common equity and a $12.6 million construction loan.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $18,000,000
- Units: 50
- Address: 416-422 69th Street
- Market: Guttenberg, NJ
- Sponsor: Black Bear Asset Management & Echevarria Industries
- Loan Amount: $18,000,000
- Loan Type: Capitalization
- Capital Market Advisors: Bryan Manz & Emil DePasquale - Black Bear Capital Partners
The capitalization deal for the project was successfully advised by Black Bear Capital Partners, facilitating the essential funding for the continued development and execution of the residential project in Guttenberg. This transaction highlights the role of both Black Bear Asset Management and Echevarria Industries as sponsors in the venture.
Players
Guttenberg 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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93