BCB Bank Refinances 11,000 SF Medical Office In Bayonne, NJ For $2.93M
FINANCED
$2,930,000
New Jersey
See Similar DealsOther11,000 SF
Financed 05/05/2023
FINANCED
BCB Bank Refinances 11,000 SF Medical Office In Bayonne, NJ For $2.93M
471 Broadway Bayonne, Nj 07002, Usa
See Similar DealsOther11,000 SF
Financed 05/05/2023
Summary
NEW JERSEY
Asset Type:Other
Price Per Square Foot:$266
Total Square Footage:11,000 SF
Transaction Type:Loan
A single-tenant medical office building located at 471 Broadway, Bayonne, NJ, has recently undergone a refinancing transaction. The property spans 11,000 square feet and is owned by Lance Lucarelli.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: $2,930,000
- Address: 471 Broadway, Bayonne, NJ
- Market: Bayonne, NJ
- Asset Type: Medical Office
- Square Footage: 11,000
The refinancing was facilitated by BCB Bank, who provided a 3-year floating rate loan for the property. The loan terms include interest-only payments for the duration of the term. Emil DePasquale, representing Black Bear Capital Partners, acted as the broker in this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,930,000.00
Monthly NOI$19,533.33
Monthly Debt Service$18,519.59
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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