Broadfield Realty Capital Provides $20.5M Construction Loan For 94-Unit Multifamily In Paterson
$20,500,000
$178/SF
Building Size
115,000 SF
Asset Type
MultiFamily
Closing
Nov 14, 2024
AI
The asset involved in this transaction is a multifamily property consisting of 94 units and covering a total square footage of 115,000. The deal is set in the Paterson market and involves a construction loan. The loan amount secured is $20,500,000, provided by Broadfield Realty Capital.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $20,500,000
- Market: Paterson
- Units: 94
- Square Footage: 115,000
- Lender: Broadfield Realty Capital
- Loan Type: Construction
Key individuals involved in this transaction include Aaron Lerman and Uanderson Benedetti, who represent Broadfield Realty Capital. For any loan inquiries, interested parties can reach out to Uanderson Benedetti at [email protected].
Players
Market 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
0.77%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93