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545 US-22 Whitehouse Statio...

Manasquan Bank Refinances Retail Property In Whitehouse Station, NJ For $2.5M
FINANCEDRetail

Manasquan Bank Refinances Retail Property In Whitehouse Station, NJ For $2.5M

545 US-22 Whitehouse Station, NJ 08889, USA

$2,500,000

$85/SF

Building Size

29,160 SF

Asset Type

Retail

Closing

Apr 28, 2023

AI

The retail property located at 545-547 Rt 22 in Whitehouse Station, NJ has been involved in a recent loan transaction. The property spans approximately 29,160 square feet and is owned by Commerce Park Investors, represented by Roy Pascal, Bruce Jeffery, and Vince Castagno.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $2,500,000

Manasquan Bank provided a loan of $2,500,000 to Commerce Park Investors for the property located at 545-547 Rt 22 in Whitehouse Station, NJ. The loan type was a refinance. Progress Capital, represented by Caillin Boles, served as the broker for this transaction.

Players

Caillin Boles

Cushman & Wakefield

Broker

$535M

vol

45 deals

Broker
Progress Capital
Progress CapitalBrokerage
Manasquan Bank
Manasquan BankLender
Roy Pascal

Roy Pascal

Commerce Park Investors

Landlord

$61.8M

vol

13 deals

Landlord

New Jersey 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

6.35%

Cash-on-Cash

-1.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93