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592 Springfield Avenue

Justin Herman Of TD Bank Provides $2.125M Refinance For Medical Office In Westfield, NJ
FINANCEDOffice

Justin Herman Of TD Bank Provides $2.125M Refinance For Medical Office In Westfield, NJ

$2,125,000

$78/SF

Building Size

27,120 SF

Asset Type

Office

Closing

Mar 21, 2025

AI

The asset involved in the transaction is a medical office located in Westfield, NJ, encompassing a total square footage of 13,560. The loan amount for this property is $2,125,000, which is categorized as a refinance with a sub-6% interest rate.

Summary of transaction details:

Chaim Sherwinter and Paul Gilbert are the brokers representing the financing transaction through Meridian Capital Group. Chaim Sherwinter holds the position of Vice President with Meridian and is located at 517 Route 1 South Ste 4000, Iselin, NJ 08830. He can be contacted at the office number 732-301-3261 or via cell at 917-374-5027, and his email address is [email protected]. A note from the broker indicates that those interested in financing assistance can contact Chaim Sherwinter for support.

Players

Paul Gilbert

Meridian Capital Group

Broker

$150.7M

vol

12 deals

Broker
TD Bank
TD BankLender
TD Bank
TD BankLender

Newark Office Market Snapshot

Boundary boundary · Office · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.46%

Cash-on-Cash

-2.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93