Manasquan Bank Refinances Retail Property In Whitehouse Station, NJ For $2.5M
FINANCED
$2,500,000
New Jersey
See Similar DealsRetail29,160 SF
Financed 04/28/2023
FINANCED
Manasquan Bank Refinances Retail Property In Whitehouse Station, NJ For $2.5M
545 US-22 Whitehouse Station, NJ 08889, USA
See Similar DealsRetail29,160 SF
Financed 04/28/2023
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$85
Total Square Footage:29,160 SF
Transaction Type:Loan
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
BROKERAGE
LENDER
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,500,000.00
Monthly NOI$16,666.67
Monthly Debt Service$15,801.70
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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