TriState Bank Provides $1.1M Cash-Out Refi Loan For Retail Property In Perth Amboy
633 New Brunswick Avenue, Perth Amboy, NJ, USA
$1,100,000
$359/SF
Building Size
3,062 SF
Asset Type
Retail
Closing
Dec 30, 2020
AI
Located at 633 New Brunswick Avenue in Perth Amboy, this retail property recently underwent a closed transaction on December 31, 2020. The property was financed by TriState Bank with a loan amount of $1,100,000. The loan terms included a non-recourse, cash-out refinance at an interest rate of 3.65%. The property is owned by PJT Perth Amboy LLC.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $1,100,000
- Lender: TriState Bank
- Landlord: PJT Perth Amboy LLC
- Loan Terms: 3.65% interest rate, non-recourse, cash-out refinance
The brokers involved in this deal were Jeff Feldman and Aaron Rosenfeld, representing AANDAR Real Estate Capital.
Players
Perth Amboy 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
14.42%
Cash-on-Cash
-4.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93