Avi Weinstock, Daniel Neiss & Dovid Kaufman Secure $30.68M Loan For Multifamily Acquisition In North Plainfield

The asset involved in this transaction is a multifamily property located in North Plainfield, NJ. The loan amount secured for the acquisition of this property is $30,675,000, which covers 74% of the purchase price. The loan features a 5-year fixed rate at 6.16%, with a full term interest-only payment structure and a stepdown prepayment penalty. Additionally, no deposits are required, and the loan is non-recourse.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $30,675,000
• Loan Type: Acquisition
• Loan Terms: 74% of Purchase Price, 5-year fixed rate at 6.16%, full term interest-only, stepdown prepayment penalty, no deposits required, non-recourse
• Market: North Plainfield, NJ
• Brokers: Avi Weinstock, Daniel Neiss & Dovid Kaufman - Meridian Capital Group

The brokers involved in this transaction are Avi Weinstock, Daniel Neiss, and Dovid Kaufman, all representing Meridian Capital Group. Their collaboration supports the acquisition financing, leveraging their expertise in the multifamily property market to facilitate this deal.