Amboy Bank Provides $35M Construction Loan For Office Building In Lakewood, NJ
500 Boulevard of the Americas Lakewood, NJ 08701, USA
$35,000,000
$203/SF
Building Size
172,000 SF
Asset Type
Office
Closing
May 15, 2023
AI
Amboy Bank has provided a $35,000,000 construction loan for an office property located at 500 Boulevard Of The Americas in Lakewood, NJ. The property spans an area of 172,000 square feet.
Summary of transation details
- Property Type: Office
- Transaction Amount: $35,000,000
- Address: 500 Boulevard Of The Americas, Lakewood, NJ
- Market: Lakewood, NJ
- Asset Type: Office
- Square Footage: 172,000
The loan was facilitated by the Meridian Capital Group, with Morris Betesh, Jacob Schmuckler, and Morris Dabbah representing the group in the transaction.
Players
New Jersey 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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93