Updated Mar 11, 2025
Haven Savings Bank Provides $4.7M Acquisition Loan For Multifamily Property In Neptune City, NJ
Neptune City, New Jersey, United States
$4,725,000
$156/SF
Building Size
30,120 SF
Asset Type
MultiFamily
Closing
Feb 6, 2022
About this deal
AI
Haven Savings Bank has provided a $4,725,000 acquisition loan for a multifamily property located in Neptune City, NJ. The property has a total square footage of 30,120 and comprises 36 units. The transaction took place on February 7, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,725,000
- Market: Neptune City, NJ
- Square Footage: 30,120
- Units: 36
The loan was facilitated by Brian Anderson and Eddie Miro from Progress Capital. They represented the buyer in the acquisition deal. Brian Anderson and Eddie Miro are brokers from Progress Capital.
Players
Neptune 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
3.36%
Cash-on-Cash
-0.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93