Updated Feb 16, 2024
Cooper-Horowitz Facilitates $7.25M Loan For Multifamily Property In Jersey City
233 Newark Avenue, Jersey City, NJ, USA
$7,250,000
$1,397/SF
Building Size
5,188 SF
Asset Type
MultiFamily
Closing
Apr 28, 2021
About this deal
AI
A $7,250,000 loan was secured for a multifamily property located at 233-237 Newark Avenue in Jersey City, NJ. The loan was provided by Fort Amsterdam Capital, with David Schwartz and Evan O'Connor representing the lending company. David Slurzberg is the landlord of the property. The deal was facilitated by Jake Lapidot and Richard Horowitz of Cooper-Horowitz.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $7,250,000
- Lender: Fort Amsterdam Capital - David Schwartz & Evan O'Connor
- Landlord: David Slurzberg
- Brokers: Jake Lapidot & Richard Horowitz - Cooper-Horowitz
The loan transaction involved the collaboration of key individuals and companies. David Schwartz and Evan O'Connor represented Fort Amsterdam Capital, the lending company. David Slurzberg served as the landlord of the property. Facilitating the deal were Jake Lapidot and Richard Horowitz from Cooper-Horowitz.
Players
Jersey City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.19%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93