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:
- Property Type: Medical Office
- Transaction Amount: $2,125,000
- Loan Type: Refinance
- Loan Term: Sub-6% rate
- Lender: Justin Herman - TD Bank
- Brokers: Chaim Sherwinter & Paul Gilbert - Meridian Capital Group
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
Newark 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
7.46%
Cash-on-Cash
-2.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93