Updated Oct 28, 2024
New Haven Savings Bank Provides $3.6M Refinance Loan For Third Street Multifamily Property In Jersey City
3rd Street, Jersey City, NJ
$3,600,000
Building Size
—
Asset Type
MultiFamily
Closing
May 16, 2021
About this deal
AI
The property involved in this transaction is a multifamily asset located on Third Street in Jersey City, NJ. The loan type for this transaction is a refinance, and it was closed on May 17, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,600,000
- Loan Terms: 12 Months Interest Only
- Lender: New Haven Savings Bank
- Broker: Kathy Anderson - Progress Capital
Kathy Anderson from Progress Capital represented the borrower in this deal, and the lender for this loan was New Haven Savings Bank. The loan amount for the refinance was $3,600,000, and the loan terms were set at 12 months of interest-only payments.
On the Map
$3,600,000
MultiFamily
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Players
Jersey City 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
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93