Updated Mar 11, 2025
Lakeland Bank Provides $3.7M Loan For Retail Acquisition In Newark, NJ
20 Branford Place, Newark, NJ 07102, USA
$3,700,000
$1,162/SF
Building Size
3,182 SF
Asset Type
Retail
Closing
May 23, 2021
About this deal
AI
Located at 20-24 Branford Place in Newark, NJ, this recent closed transaction involved the acquisition of a retail property. The loan provided by Lakeland Bank amounted to $3,700,000, facilitating the purchase.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $3,700,000
- Asset Type: Retail
- Market: Newark, NJ
Brad Domenico from Progress Capital and Frank Stanislaski represented the buyer in the deal, while Brad Domenico can be contacted at 908-433-7467 or [email protected], and Frank Stanislaski can be reached at 732-674-2648 or [email protected].
For any commercial real estate financing needs, you can reach out to Brad or Frank at the provided contact information.
Players
Newark Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.29%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93