ConnectOne Bank Funds $9.47 Million Refinance For 47-Unit Multifamily Asset In West New York
$9,470,000
Building Size
—
Asset Type
MultiFamily
Closing
Apr 13, 2026
AI
The asset involved in this transaction is a multifamily property located in West New York & Guttenberg, NJ. It encompasses a total square footage of 40,533, with 47 residential units and 2 stores. The property secured a refinance loan amount of $9,470,000.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $9,470,000
- Square Footage: 40,533
- Units: 47
- Stores: 2
- Lender: ConnectOne Bank
- Landlord's Representative: Jacob Schmuckler & Meir Schlusselberg - Arrow Real Estate Advisors
- Loan Type: Refinance
- Date: 4/14/2026
This refinancing deal was facilitated by ConnectOne Bank, with representation from the brokerage firm Arrow Real Estate Advisors, represented by Jacob Schmuckler and Meir Schlusselberg. Their involvement signifies a strategic move for the landlord to secure improved financing terms for the property.
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
1.68%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93