Updated Oct 28, 2024
First Commerce Bank Provides $6.5M Refinance Loan For Ridgewood, NJ Office Property
45 North Broad Street, Ridgewood, New Jersey 07450, United States
$6,500,000
$314/SF
Building Size
20,687 SF
Asset Type
Office
Closing
Sep 21, 2022
About this deal
AI
An office property located at 45 N. Broad St in Ridgewood, NJ has been involved in a recent loan transaction. The property spans approximately 20,687 square feet and is situated in the Ridgewood market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $6,500,000
- Loan Type: Refinance
In this transaction, First Commerce Bank acted as the lender. Progress Capital, through Brian Anderson, represented the borrower during this loan refinance process.
The office loan at 45 North Broad Street, Ridgewood, New Jersey 07450, United States in Ridgewood, New Jersey financed for $6.5M in 2022. The building is 20,687 square feet, implying about 314 per square foot on the published price. Brian Anderson, Progress Capital appear on the loan alongside Progress Capital. This page is the Ridgewood, New Jersey file for the 45 North Broad Street, Ridgewood, New Jersey 07450, United States office financed: pricing, party profiles, and other closed office comps from the same Ridgewood sit in the Market section below. Filter that Ridgewood office set by closing date to see what else financed near 45 North Broad Street, Ridgewood, New Jersey 07450, United States around 2022. Published consideration for 45 North Broad Street, Ridgewood, New Jersey 07450, United States is $6.5M, dated 2022. Cite this First Commerce Bank Provides $6.5M Refinance Loan For Ridgewood, NJ Office Property loan when underwriting similar office product around Ridgewood, New Jersey.
Players
Ridgewood 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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93