New York Community Bank Provides $18.98M Acquisition Loan For Golden Apple Portfolio In North Bergen And West New York, NJ

The Golden Apple Portfolio, located at 118 74th Street, 5111-5113 & 6000 Palisade Avenue, 6611 Broadway, 140 71st Street, 5206 Bergenline Avenue & 6000 Monroe Place, is a multifamily property consisting of 135 units. The property is situated in North Bergen, West New York, and Guttenberg, NJ.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $18,976,000
• Lender: New York Community Bank
• Brokers: Jacob Schmuckler & Meir Schlusselberg - Meridian Capital Group
• Loan Type: Acquisition
• Loan Terms: 6.25% with multiple years IO

Jacob Schmuckler and Meir Schlusselberg from Meridian Capital Group were the brokers representing the parties involved in the deal. New York Community Bank provided a loan of $18,976,000 for the acquisition of the Golden Apple Portfolio. The loan terms include an interest rate of 6.25% with multiple years of interest-only payments.