Kushner Companies Secures $11.58M Refinance Loan For 26 Journal Square Office In Jersey City
26 Journal Square Concourse
$11,580,000
$104/SF
Building Size
111,000 SF
Asset Type
Office
Closing
Sep 6, 2024
AI
The property asset involved in this transaction is an office space located at 26 Journal Square, Jersey City, with a total square footage of 111,000. The loan amount for this transaction is $11,580,000 and is categorized as a refinance.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $11,580,000
- Address: 26 Journal Square
- Market: Jersey City
- Landlord: Laurent Morali, Nikki Kushner, Aden Wiener & Nick Maki - Kushner Companies; Alex Finkelstein, Michael Goldstein & Raffi Aynilian - The KABR Group
- Broker: AJ Bruno - Meridian Capital Group
- Loan Type: Refinance
The key individuals involved in this deal include Laurent Morali, Nikki Kushner, Aden Wiener, and Nick Maki representing Kushner Companies, along with Alex Finkelstein, Michael Goldstein, and Raffi Aynilian from The KABR Group. The transaction was brokered by AJ Bruno from Meridian Capital Group, providing expertise in securing the refinance loan for the asset.
Players
Jersey City 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
1.37%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93