Nihad Choudhury Of LMF Commercial Provides $4.5M Loan For Jersey City Multifamily Acquisition
FINANCED
$4,500,000
New Jersey
See Similar DealsMultiFamily10,268 SF
Financed 08/02/2024
FINANCED
Nihad Choudhury Of LMF Commercial Provides $4.5M Loan For Jersey City Multifamily Acquisition
MultiFamily10,268 SF
Financed 08/02/2024
Summary
Asset Type:MultiFamily
Price Per Square Foot:$438
Total Square Footage:10,268 SF
Transaction Type:Loan
The property involved in this transaction is a multifamily asset located in Jersey City, NJ. It has a total square footage of 10,268 and consists of 21 units, emphasizing its capacity for residential rental opportunities.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,500,000
- Lender: Nihad Choudhury - LMF Commercial
- Broker: Vivek Jagadish - Blue Mountain Capital
- Loan Type: Acquisition
- Loan Terms: CMBS: 5 year, FTIO
Nihad Choudhury represents LMF Commercial in the lending capacity for this transaction, while Vivek Jagadish represents Blue Mountain Capital as the broker facilitating the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,500,000.00
Monthly NOI$30,000.00
Monthly Debt Service$28,443.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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