TriState Bank Provides $1.1M Cash-Out Refi Loan For Retail Property In Perth Amboy
FINANCED
$1,100,000
New Jersey
See Similar DealsRetail3,062 SF
Financed 12/31/2020
FINANCED
TriState Bank Provides $1.1M Cash-Out Refi Loan For Retail Property In Perth Amboy
633 New Brunswick Avenue, Perth Amboy, NJ, USA
See Similar DealsRetail3,062 SF
Financed 12/31/2020
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$359
Total Square Footage:3,062 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,100,000.00
Monthly NOI$7,333.33
Monthly Debt Service$6,952.75
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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