Updated Sep 11, 2026
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
About this deal
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.
On the Map
$35,000,000
$203/SF
Office
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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