Updated Oct 29, 2024
Morgan Stanley Provides $50M Loan For Tice's Corner Shopping Center In Woodcliff Lake, NJ
441 Chestnut Ridge Rd Woodcliff Lake, NJ 07677, USA
$50,000,000
$419/SF
Building Size
119,197 SF
Asset Type
Retail
Closing
May 23, 2023
About this deal
AI
Tice's Corner, a retail property located at 441 Chestnut Ridge Road in Woodcliff Lake, NJ, has secured a $50 million loan from Morgan Stanley. The shopping center spans a total of 119,197 square feet.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $50,000,000
- Address: 441 Chestnut Ridge Road, Woodcliff Lake, NJ
- Market: Woodcliff Lake
- Lender: Morgan Stanley
- Landlord: David Adam Realty Inc - David A. Waldman
- Broker: Cronheim Mortgage
Morgan Stanleyprovided the loan against Tice's Corner, a shopping center situated in Woodcliff Lake, NJ. The 10-year loan carries a 6.42 percent coupon rate and has been securitized through a recent CMBS transaction.
Players
Woodcliff Lake Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
Loading comparables…
Deal FAQ
Browse New Jersey retail loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93