Updated Feb 16, 2024
Valley National Bank Provides $3.75M Construction Loan For Office Conversion In Livingston, NJ
92 South Livingston Avenue, Livingston, NJ, USA
$3,750,000
$258/SF
Building Size
14,500 SF
Asset Type
Office
Closing
Apr 19, 2021
About this deal
AI
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.
On the Map
$3,750,000
$258/SF
Office
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Players
Livingston 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
4.23%
Cash-on-Cash
-1.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93