Manasquan Savings Bank Provides $1.5M Acquisition Loan For Shrewsbury Office Property
FINANCED
$1,500,000
New Jersey
See Similar DealsOffice11,842 SF
Financed 05/04/2021
FINANCED
Manasquan Savings Bank Provides $1.5M Acquisition Loan For Shrewsbury Office Property
20 Avenue of the Common, Shrewsbury, NJ, USA
See Similar DealsOffice11,842 SF
Financed 05/04/2021
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$126
Total Square Footage:11,842 SF
Transaction Type:Loan
The office property located at 20 Avenue at the Common in Shrewsbury, NJ has recently undergone an acquisition. The transaction was finalized on 05/04/2021.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $1,500,000
- Loan Type: Acquisition
- Lender: Manasquan Savings Bank
- Landlord: Donald Cresitello
- Brokers: David May - Cre Loans; Evan Boles - Progress Capital
The office property, situated in Shrewsbury, NJ, was acquired with a loan amount of $1,500,000. The lender in this transaction was Manasquan Savings Bank. The landlord, Donald Cresitello, facilitated the acquisition. The brokers involved in the deal were David May from Cre Loans and Evan Boles from Progress Capital.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,500,000.00
Monthly NOI$10,000.00
Monthly Debt Service$9,481.02
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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