New Haven Savings Bank Provides $3.6M Refinance Loan For Third Street Multifamily Property In Jersey City
FINANCED
$3,600,000
New Jersey
See Similar DealsMultiFamily
Financed 05/17/2021
FINANCED
New Haven Savings Bank Provides $3.6M Refinance Loan For Third Street Multifamily Property In Jersey City
3rd Street, Jersey City, NJ
See Similar DealsMultiFamily
Financed 05/17/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,600,000.00
Monthly NOI$24,000.00
Monthly Debt Service$22,754.45
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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