Updated Mar 11, 2025
New York Community Bank Provides $18.98M Acquisition Loan For Golden Apple Portfolio In North Bergen And West New York, NJ
118 74th St North Bergen, NJ 07047, USA
$18,976,000
Units
135
Asset Type
MultiFamily
Closing
Jul 13, 2023
About this deal
AI
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.
On the Map
$18,976,000
MultiFamily
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.84%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93