Updated Oct 29, 2024
Haven Savings Bank Provides $2.2M Loan For Office Property In Wall Township, NJ
2101 Highway 34, Wall Township, NJ, USA
$2,200,000
$184/SF
Building Size
11,896 SF
Asset Type
Office
Closing
Feb 15, 2021
About this deal
AI
The office property located at 2101 Highway 34 in Wall Township, NJ has recently secured a loan of $2,200,000. The loan was provided by Haven Savings Bank.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $2,200,000
- Address: 2101 Highway 34, Wall Township, NJ
- Market: Wall Township, NJ
The landlord of the property is Jerald Cernero from The Jerald Development Group. The loan terms for this transaction include a 5-year fixed rate with 2 years of interest-only payments.
Kathy Anderson from Progress Capital represented the borrower in this deal. She can be contacted at 908-601-4891 or [email protected] for further information.
Players
Belmar Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93