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Progress Capital Arranges $4.9M Acquisition Loan For Retail Property In East Hanover, NJ

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FINANCED
$4,900,000
Jack Subers
Brad Domenico

New Jersey

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Retail37,000 SF
Financed 03/03/2023
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FINANCED

Progress Capital Arranges $4.9M Acquisition Loan For Retail Property In East Hanover, NJ

416 New Jersey Highway 10

See Similar Deals
Retail37,000 SF
Financed 03/03/2023
Jack Subers
Brad Domenico
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$132
Total Square Footage:37,000 SF
Transaction Type:Loan

The retail property located at 416 New Jersey Highway 10 in East Hanover, NJ has been acquired in a closed transaction. With a total square footage of 37,000, the property is situated in a prominent market.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $4,900,000
  • Address: 416 New Jersey Highway 10, East Hanover, NJ
  • Market: East Hanover, NJ
  • Lender: TD Bank
  • Landlord: Ken Lebersfeld, Eric Lebersfeld Of Capital Lighting
  • Brokers: Brad Domenico & Jack Subers - Progress Capital

The deal involved the lender, TD Bank, providing a loan amount of $4,900,000 for the acquisition of the retail property. The landlords, Ken Lebersfeld and Eric Lebersfeld of Capital Lighting, were represented in the transaction. Brad Domenico and Jack Subers from Progress Capital acted as the brokers in this closed transaction.

Players

Brad Domenico
Cushman & Wakefield
Brad Domenico
134 deals$3.6B volume
BROKER
Jack Subers
Cushman & Wakefield
Jack Subers
12 deals$424.5M volume
BROKER
TD Bank
TD Bank
LENDER

Details

FINANCED
IMAGE: Brad Domenico & Jack Subers DATE: 03/03/2023 ADDRESS: 416 New Jersey Highway 10 MARKET: East Hanover, NJ ASSET TYPE: Retail ~ SF: 37,000 LENDER: TD Bank (@TDBank_US) LANDLORD: Ken Lebersfeld, Eric Lebersfeld Of Capital Lighting (@CapitolLighting) BROKERS: Brad Domenico (@Domenico317) & Jack Subers (@Jacksubers) - Progress Capital (@Progress.Capital) LOAN AMOUNT: $4,900,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$4,900,000.00

Monthly NOI$32,666.67
Monthly Debt Service$30,971.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00