Haven Savings Bank Provides $4.7M Acquisition Loan For Multifamily Property In Neptune City, NJ
FINANCED
$4,725,000
New Jersey
See Similar DealsMultiFamily30,120 SF
Financed 02/07/2022
FINANCED
Haven Savings Bank Provides $4.7M Acquisition Loan For Multifamily Property In Neptune City, NJ
Neptune City, New Jersey, United States
See Similar DealsMultiFamily30,120 SF
Financed 02/07/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$156
Total Square Footage:30,120 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,725,000.00
Monthly NOI$31,500.00
Monthly Debt Service$29,865.21
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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