Nihad Choudhury Of LMF Commercial Provides $4.5M Loan For Jersey City Multifamily Acquisition
$4,500,000
$438/SF
Building Size
10,268 SF
Asset Type
MultiFamily
Closing
Aug 2, 2024
AI
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.
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
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93