Valley National Bank Provides $3.75M Construction Loan For Office Conversion In Livingston, NJ
FINANCED
$3,750,000
New Jersey
See Similar DealsOffice14,500 SF
Financed 04/20/2021
FINANCED
Valley National Bank Provides $3.75M Construction Loan For Office Conversion In Livingston, NJ
92 South Livingston Avenue, Livingston, NJ, USA
See Similar DealsOffice14,500 SF
Financed 04/20/2021
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$258
Total Square Footage:14,500 SF
Transaction Type:Loan
The property involved in this transaction is located at 92 South Livingston in Livingston, NJ. It is an office asset that is being converted into a state-of-the-art Goddard School. The loan for this transaction is a construction loan.
Summary of transation details
- Property Type: Office
- Transaction Amount: $3,750,000
- Loan Type: Construction
- Lender: Valley National Bank
- Landlord: Irv Cyzner
- Broker: Kathy Anderson from Progress Capital
The loan provided by Valley National Bank is a 24-month interest-only construction loan with a permanent conversion option. The broker representing the deal is Kathy Anderson from Progress Capital.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,750,000.00
Monthly NOI$25,000.00
Monthly Debt Service$23,702.55
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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