Updated Dec 2, 2025
National Realty & Development Corp Secures $17.8M Loan For Old Colony Square In Jersey City
420 Grand Street
$17,800,000
$176/SF
Building Size
100,760 SF
Asset Type
Retail
Closing
Dec 1, 2025
About this deal
AI
A fixed-rate loan of $17,800,000 has been arranged for a retail asset known as Old Colony Square, located at 420 Grand Street in Jersey City. This property spans 100,760 square feet and is fully leased, featuring tenants such as 99 Ranch Market, McDonald’s, Advance Auto Parts, and Dunkin’.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $17,800,000
- Address: 420 Grand Street
- Market: Jersey City
- Asset Size: 100,760 SF
- Landlord: National Realty & Development Corp
- Brokers: Brandon Szwalbenest, Andrew Stewart & Dev Morris - Cronheim Mortgage
- Loan Terms: Fixed-rate
Cronheim Mortgage facilitated the financing through an undisclosed life insurance company. The team composed of Brandon Szwalbenest, Andrew Stewart, and Dev Morris played a pivotal role in securing the loan, representing the interests of National Realty & Development Corp throughout this transaction.
On the Map
$17,800,000
$176/SF
Retail
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Players
Jersey City 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
0.89%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93