Amboy Bank Provides $35M Construction Loan For Office Building In Lakewood, NJ
FINANCED
$35,000,000
New Jersey
See Similar DealsOffice172,000 SF
Financed 05/15/2023
FINANCED
Amboy Bank Provides $35M Construction Loan For Office Building In Lakewood, NJ
500 Boulevard of the Americas Lakewood, NJ 08701, USA
See Similar DealsOffice172,000 SF
Financed 05/15/2023
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$203
Total Square Footage:172,000 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$35,000,000.00
Monthly NOI$233,333.33
Monthly Debt Service$221,223.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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